<SEC-DOCUMENT>0000891092-13-003004.txt : 20130403
<SEC-HEADER>0000891092-13-003004.hdr.sgml : 20130403
<ACCEPTANCE-DATETIME>20130403164918
ACCESSION NUMBER:		0000891092-13-003004
CONFORMED SUBMISSION TYPE:	N-CSRS
PUBLIC DOCUMENT COUNT:		9
CONFORMED PERIOD OF REPORT:	20130131
FILED AS OF DATE:		20130403
DATE AS OF CHANGE:		20130403
EFFECTIVENESS DATE:		20130403

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK CALIFORNIA MUNICIPAL INCOME TRUST
		CENTRAL INDEX KEY:			0001137391
		IRS NUMBER:				510409109
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-CSRS
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-10331
		FILM NUMBER:		13740128

	BUSINESS ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
		BUSINESS PHONE:		888-825-2257

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-CSRS
<SEQUENCE>1
<FILENAME>e51807ncsrs.htm
<DESCRIPTION>SEMI-ANNUAL REPORT
<TEXT>
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 78pt; text-indent: -78pt"><FONT STYLE="letter-spacing: -1pt; vertical-align: baseline"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center">UNITED
STATES</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center">SECURITIES
AND EXCHANGE COMMISSION </P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0; text-align: center">Washington,
D.C. 20549</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 78pt; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 77.75pt; text-align: center; text-indent: -77.75pt"><B>FORM N-CSR</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0in"><B>CERTIFIED SHAREHOLDER REPORT
OF REGISTERED MANAGEMENT INVESTMENT COMPANIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Investment Company Act file number
811-10331</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Name of Fund: BlackRock California
Municipal Income Trust (BFZ)</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Fund Address: 100 Bellevue Parkway,
Wilmington, DE 19809</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Name and address of agent for service:
John M. Perlowski, Chief Executive Officer, BlackRock California Municipal Income Trust, 55 East 52<SUP>nd</SUP> Street, New York,
NY 10055</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Registrant&rsquo;s telephone number,
including area code: (800) 882-0052, Option 4</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Date of fiscal year end: 07/31/2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">Date of reporting period: 01/31/2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt">Item 1 &ndash; Report to Stockholders</P>

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<P ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">JANUARY 31, 2013</FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="font-family: Arial, Helvetica, Sans-Serif">
<TD STYLE="text-align: left; width: 60%; background-color: Gray; font-family: Arial, Helvetica, Sans-Serif; padding-left: 20pt"><FONT STYLE="font: 14pt
Arial, Helvetica, Sans-Serif"><FONT STYLE="color: White">SEMI-ANNUAL REPORT (UNAUDITED) </FONT></FONT></TD>
<TD STYLE="text-align: left; width: 3%; font-family: Arial, Helvetica, Sans-Serif"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; vertical-align: bottom; font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="blackrock_ko.jpg" alt=""></TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock California Municipal Income
Trust (BFZ)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock Florida Municipal 2020 Term
Trust (BFO)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock Municipal Income Investment
Trust (BBF)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock Municipal Target Term Trust
(BTT)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock New Jersey Municipal Income
Trust (BNJ)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 18px" ALIGN="LEFT">BlackRock New York Municipal Income
Trust (BNY)</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><B></B></FONT></P>
<DIV STYLE="BORDER: SOLID WINDOWTEXT 1PX; PADDING: 4px; MARGIN-TOP: 12px; WIDTH: 50%">
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="CENTER" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Not FDIC Insured&nbsp;&#149;&nbsp;May Lose Value&nbsp;&#149;&nbsp;No Bank Guarantee</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
</TR></TABLE>
</DIV>
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<P STYLE="text-align: left; font: 14pt Arial, Helvetica, Sans-Serif; border-top: gray 4pt solid; color: gray"><FONT COLOR="gray">Table of
Contents</FONT></P>
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</FONT></TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0">&nbsp;</TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0">&nbsp;</TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0">&nbsp;</TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0"><FONT STYLE="font: 9pt Arial, Helvetica, sans-serif"><B>Page</B></FONT></TD>
     <TD STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt; background-color: #f0f0f0"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Dear Shareholder</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Semi-Annual Report:</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">The
Benefits and Risks of Leveraging</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Derivative Financial Instruments</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Municipal Market Overview</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Trust Summaries</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Financial Statements:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Schedules of Investments </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Statements of Assets and Liabilities </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">44</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Statements of Operations </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">45</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Statements of Changes in Net Assets </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">46</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Statements of Cash Flows </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">48</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Financial Highlights </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">49</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Notes to Financial Statements </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">55</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Disclosure of Investment Advisory Agreement and Sub-Advisory Agreement </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">66</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Officers and Trustees </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">69</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
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<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Additional Information</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">70</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
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<TD STYLE="text-align: left; width: 33%">2</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Dear Shareholder</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">Financial markets have substantially improved over the past year,
providing investors with considerable relief compared to where things were during the global turmoil seen in 2011. Despite a number of headwinds,
higher-risk asset classes boasted strong returns as investors sought meaningful yields in the ongoing low-interest-rate environment.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">Rising investor confidence drove equity markets higher in early
2012, while climbing US Treasury yields pressured higher-quality fixed income assets. The second quarter, however, brought a market reversal as
Europe&#146;s debt crisis boiled over once again. Political instability in Greece and severe deficit and liquidity problems in Spain raised the specter
of a euro collapse. Alongside the drama in Europe, investors were discouraged by gloomy economic reports from various parts of the world. A slowdown in
China, a key powerhouse for global growth, emerged as a particular concern. But as the outlook for the global economy worsened, investors grew
increasingly optimistic that the world&#146;s largest central banks would soon intervene to stimulate growth. This theme, along with the European
Central Bank&#146;s (&#147;ECB&#146;s&#148;) firm commitment to preserve the euro currency bloc, drove most asset classes higher through the summer.
Policy relief came in early September, when the ECB announced its decision to support the eurozone&#146;s troubled peripheral countries with unlimited
purchases of short term sovereign debt. Days later, the US Federal Reserve announced its own much-anticipated stimulus package.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">Although financial markets world-wide were buoyed by accommodative
monetary policy, risk assets weakened in the fall. Global trade slowed as many European countries fell into recession and growth continued to
decelerate in China, where a once-a-decade leadership change compounded uncertainty. In the United States, stocks slid on lackluster corporate earnings
reports and market volatility rose during the lead up to the US Presidential election. In the post-election environment, investors grew increasingly
concerned over automatic tax increases and spending cuts that had been scheduled to take effect at the beginning of 2013 (known as the &#147;fiscal
cliff&#148;). There was widespread fear that the fiscal cliff would push the nation into recession unless politicians could agree upon alternate
measures to reduce the deficit before the end of 2012. Worries that bipartisan gridlock would preclude a timely budget deal triggered higher levels of
volatility in financial markets around the world in the months leading up to the last day of the year. Ultimately, the United States averted the worst
of the fiscal cliff with a last-minute tax deal; however, decisions relating to spending cuts and the debt ceiling continue to weigh on investors&#146;
minds.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">Investors shook off the nerve-wracking finale to 2012 and began
the New Year with a powerful equity rally. Key indicators signaled broad-based improvements in the world&#146;s major economies, particularly China. In
the United States, economic data was mixed, but pointed to a continued recovery. The risk of inflation remained low and the US Federal Reserve showed
no signs of curtailing its stimulus programs. Additionally, January saw the return of funds that investors had pulled out of the market in late 2012
amid uncertainty about tax-rate increases ahead of the fiscal cliff deadline. In fixed income markets, rising US Treasuries yields dragged down
higher-quality asset classes, while high yield bonds continued to benefit from investor demand for yield in the low-rate environment.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">On the whole, riskier asset classes outperformed lower-risk
investments for the 6- and 12-month periods ended January 31, 2013. International equities were the strongest performers. US stocks and high yield
bonds also generated significant returns. Emerging market equities were particularly volatile, but still posted gains for both the 6- and 12-month
periods. US Treasury yields remained low, but experienced increasing volatility in recent months. Rising yields near the end of the period resulted in
negative returns for Treasuries and investment-grade bonds for the 6-month period. Tax-exempt municipal bonds, however, benefited from favorable
supply-and-demand dynamics. Near-zero short term interest rates continued to keep yields on money market securities near their all-time
lows.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">While investors continue to face a host of unknowns, we believe
new opportunities abound. BlackRock was built to provide the global market insight, breadth of capabilities, unbiased investment advice and deep risk
management expertise these times require. We encourage you to visit <B>www.blackrock.com/newworld</B> for more information.</DIV></FONT></P>
<P STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt; font-size: 9pt">Sincerely,</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-top: 6pt; margin-bottom: 0pt">&nbsp;&nbsp;
<IMG SRC="kapito_sig.jpg">
</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; font-size: 9pt"><B>Rob Kapito</B><BR> President, BlackRock Advisors,
LLC</DIV></FONT></P>

</DIV><DIV style="margin-left: 2%; width: 38%; float: right;">

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<TR VALIGN="TOP">
     <TD WIDTH="2%" ALIGN="LEFT" NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left"><I></DIV></I></FONT></TD>
     <TD ALIGN="LEFT" STYLE="text-align: left">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT" STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><I>&ldquo;Despite a number of headwinds, higher-risk asset classes
boasted strong returns as investors sought meaningful yields in the ongoing low-interest-rate environment.&#148;</I></FONT></TD>
</TR>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Rob Kapito</B><BR>

President, BlackRock Advisors, LLC</DIV></FONT></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT"><B><HR SIZE="4" NOSHADE COLOR="#000000">Total Returns as of January 31, 2013</B></DIV></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR STYLE="background-color: Black; color: White">
     <TD NOWRAP STYLE="text-align: center; color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD STYLE="color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>6-month</B></FONT></TD>
     <TD STYLE="text-align: center; color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; color: White"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>12-month</B></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; width: 50%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
large cap equities<BR> (S&amp;P 500<sup>&#174;</sup> Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9.91</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.78</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
small cap equities<BR> (Russell 2000<sup>&#174;</sup> Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.51</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.47</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">International equities<BR> (MSCI Europe, Australasia,<BR> Far East Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18.61</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.25</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Emerging market equities<BR> (MSCI Emerging<BR> Markets Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13.11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7.64</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV>3-month Treasury bill<BR> (BofA Merrill Lynch<BR> 3-Month US Treasury<BR> Bill Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.07</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
Treasury securities<BR> (BofA Merrill Lynch<BR> 10-Year US Treasury Index)</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(2.90</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.28</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
investment grade<BR> bonds (Barclays US<BR> Aggregate Bond Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(0.29</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2.59</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tax-exempt municipal<BR> bonds (S&amp;P Municipal<BR> Bond Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2.21</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5.50</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
high yield bonds<BR> (Barclays US Corporate<BR> High Yield 2% Issuer<BR> Capped Index)</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7.37</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13.87</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD></TR>
</TABLE>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 4px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; font-size: 9pt">Past performance is no guarantee of future results. Index performance is shown for illustrative purposes only. You cannot invest directly
in an index.<BR> <HR SIZE="2" NOSHADE COLOR="#000000"></DIV></FONT></P>
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<TD NOWRAP STYLE="text-align: center; width: 34%; border-top: Black 1pt solid">THIS PAGE NOT PART OF YOUR FUND REPORT</TD>
<TD STYLE="text-align: right; width: 33%; border-top: Black 1pt solid">3</TD></TR></TABLE>
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100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>The Benefits and Risks of Leveraging</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray>&nbsp;<BR></FONT></B></TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts may utilize leverage to seek to enhance the yield and
net asset value (&#147;NAV&#148;) of their common shares (&#147;Common Shares&#148;). However, these objectives cannot be achieved in all interest rate
environments.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">To obtain leverage, the Trusts issue Auction Market Preferred
Shares (&#147;AMPS&#148;), Variable Rate Demand Preferred Shares (&#147;VRDP Shares&#148;), Variable Rate Muni Term Preferred Shares (&#147;VMTP
Shares&#148;) or Remarketable Variable Rate Muni Term Preferred Shares (&#147;RVMTP Shares&#148;) (collectively, &#147;Preferred Shares&#148;).
Preferred Shares pay dividends at prevailing short-term interest rates, and the Trusts invest the proceeds in long-term municipal bonds. In general,
the concept of leveraging is based on the premise that the financing cost of assets to be obtained from leverage, which will be based on short-term
interest rates, will normally be lower than the income earned by each Trust on its longer-term portfolio investments. To the extent that the total
assets of each Trust (including the assets obtained from leverage) are invested in higher-yielding portfolio investments, each Trust&#146;s
shareholders will benefit from the incremental net income.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The interest earned on securities purchased with the proceeds from
leverage is paid to shareholders in the form of dividends, and the value of these portfolio holdings is reflected in the per share NAV. However, in
order to benefit shareholders, the yield curve must be positively sloped; that is, short-term interest rates must be lower than long-term interest
rates. If the yield curve becomes negatively sloped, meaning short-term interest rates exceed long-term interest rates, income to shareholders will be
lower than if the Trusts had not used leverage.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">To illustrate these concepts, assume a Trust&#146;s Common Shares
capitalization is $100 million and it issues Preferred Shares for an additional $50 million, creating a total value of $150 million available for
investment in long-term municipal bonds. If prevailing short-term interest rates are 3% and long-term interest rates are 6%, the yield curve has a
strongly positive slope. In this case, the Trust pays dividends on the $50 million of Preferred Shares based on the lower short-term interest rates. At
the same time, the securities purchased by the Trust with assets received from the Preferred Shares issuance earn income based on long-term interest
rates. In this case, the dividends paid to holders of Preferred Shares (&#147;Preferred Shareholders&#148;) are significantly lower than the income
earned on the Trust&#146;s long-term investments, and therefore the holders of Common Shares (&#147;Common Shareholders&#148;) are the beneficiaries of
the incremental net income.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">If short-term interest rates rise, narrowing the differential
between short-term and long-term interest rates, the incremental net income pickup will be reduced or eliminated completely. Furthermore, if prevailing
short-term interest rates rise above long-term interest rates, the yield curve has a negative slope. In this case, the Trust pays higher short-term
interest rates whereas the Trust&#146;s total portfolio earns income based on lower long-term interest rates.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Furthermore, the value of the Trusts&#146; portfolio investments
generally varies inversely with the direction of long-term interest rates, although other factors can influence the value of portfolio investments. In
contrast, the redemption value of the Trusts&#146; Preferred Shares does not fluctuate in relation to interest rates. As a result, changes in interest
rates can influence the Trusts&#146; NAVs positively or negatively in addition to the impact on Trust performance from leverage from Preferred Shares
discussed above.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts may also leverage their assets through the use of
tender option bond trusts (&#147;TOBs&#148;), as described in Note 1 of the Notes to Financial Statements. TOB investments generally will provide the
Trusts with economic benefits in periods of declining short-term interest rates, but expose the Trusts to risks during periods of rising short-term
interest rates similar to those associated with Preferred Shares issued by the Trusts, as described above. Additionally, fluctuations in the market
value of municipal bonds deposited into the TOB trust may adversely affect each Trust&#146;s NAV per share.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The use of leverage may enhance opportunities for increased income
to the Trusts and Common Shareholders, but as described above, it also creates risks as short- or long-term interest rates fluctuate. Leverage also
will generally cause greater changes in the Trusts&#146; NAVs, market prices and dividend rates than comparable portfolios without leverage. If the
income derived from securities purchased with assets received from leverage exceeds the cost of leverage, the Trusts&#146; net income will be greater
than if leverage had not been used. Conversely, if the income from the securities purchased is not sufficient to cover the cost of leverage, each
Trust&#146;s net income will be less than if leverage had not been used, and therefore the amount available for distribution to Common Shareholders
will be reduced. Each Trust may be required to sell portfolio securities at inopportune times or at distressed values in order to comply with
regulatory requirements applicable to the use of leverage or as required by the terms of leverage instruments, which may cause a Trust to incur losses.
The use of leverage may limit each Trust&#146;s ability to invest in certain types of securities or use certain types of hedging strategies, such as in
the case of certain restrictions imposed by rating agencies that rate the Preferred Shares issued by the Trusts. Each Trust will incur expenses in
connection with the use of leverage, all of which are borne by Common Shareholders and may reduce income to the Common Shares.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Under the Investment Company Act of 1940, as amended (the
&#147;1940 Act&#148;), the Trusts are permitted to issue senior securities in the form of equity securities (e.g., Preferred Shares) up to 50% of their
total managed assets (each Trust&#146;s total assets less the sum by its accrued liabilities). In addition, each Trust voluntarily limits its economic
leverage to 50% of its total managed assets for Trusts with AMPS or 45% for Trusts with VRDP Shares, VMTP Shares or RVMTP Shares. As of January 31,
2013, the Trusts had economic leverage from Preferred Shares and/or TOBs as a percentage of their total managed assets as follows:</DIV></FONT></P>
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     <TD NOWRAP STYLE="width: 100%; text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Percent of<BR> Economic<BR>
Leverage</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFZ
</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">39%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFO
</DIV></FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BBF
</DIV></FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">39%</FONT></TD>
</TR>
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     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BTT
</DIV></FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNJ
</DIV></FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">37%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNY </DIV></FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">39%</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 6px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="3"><DIV STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid"><FONT STYLE="color: Gray">Derivative
                                                                                                                                    Financial
                                                                                                                                    Instruments</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts may invest in various derivative financial instruments,
including financial futures contracts and options, as specified in Note 2 of the Notes to Financial Statements, which may constitute forms of economic
leverage. Such derivative financial instruments are used to obtain exposure to a security, index and/or market without owning or taking physical
custody of securities or to hedge market and/or interest rate risks. Derivative financial instruments involve risks, including the imperfect
correlation between the value of a derivative financial instrument and the underlying asset, possible default of the counterparty to the transaction or
illiquidity of the derivative financial instrument. The Trusts&#146; ability to use a derivative financial instrument successfully depends on the
investment advisor&#146;s ability to predict pertinent market movements accurately, which cannot be assured. The use of derivative financial
instruments may result in losses greater than if they had not been used, may require a Trust to sell or purchase portfolio investments at inopportune
times or for distressed values, may limit the amount of appreciation a Trust can realize on an investment, may result in lower dividends paid to
shareholders or may cause a Trust to hold an investment that it might otherwise sell. The Trusts&#146; investments in these instruments are discussed
in detail in the Notes to Financial Statements.</DIV></FONT></P>
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<TD STYLE="text-align: left; width: 33%">4</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Municipal Market Overview</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray>&nbsp;<BR></FONT></B></TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>For the Reporting Period Ended January 31, 2013</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Municipal bonds delivered strong performance during the reporting
period ended January 31, 2013. Market conditions remained favorable even though supply picked up considerably in 2012. As the fiscal situation for
municipalities continued to improve, the rate of new issuance came back in line with historical averages. Total new issuance for 2012 was $373 billion,
nearly 30% greater than the $288 billion issued in 2011. In the first month of 2013, issuance exceeded market expectations at $26.5 billion, which is
roughly 50% higher than January 2012. It is important to note that refunding activity has accounted for a large portion of supply during this period as
issuers refinanced their debt at lower interest rates. Refunding issues are easily absorbed by the market because when seasoned bonds are refinanced,
issuers re-enter the market via cheaper and predominantly shorter-maturity financing. Investors, in turn, support these new issues with the proceeds
from bond maturities or coupon payments.<BR>
<BR>
<IMG SRC="aaamuni_jan31.gif" ALT=""></DIV></p>
 </FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Increased supply was met with strong demand during the period as
investors were starved for yield in a low-rate environment. Investors poured into municipal bond mutual funds, particularly those with long-duration
and high-yield investment mandates as they tend to provide higher levels of income. For the 12 months ended January 31, 2013, municipal bond fund
inflows totaled $51.75 billion (according to the Investment Company Institute). Considering the extensive period of significant outflows from late 2010
through mid-2011, these robust inflows are telling of the complete turnaround in confidence and investors&#146; avid search for yield and
income.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Municipal market supply-and-demand technicals typically strengthen
considerably upon the conclusion of tax season as net negative supply takes hold (i.e., more bonds are being called and maturing than being issued) and
this theme remained intact for 2012. In the spring, a resurgence of concerns about Europe&#146;s financial crisis and weakening US economic data drove
municipal bond yields lower and prices higher. In addition to income and capital preservation, investors were drawn to the asset class for its
relatively low volatility. As global sentiment improved over the summer, municipal bonds outperformed the more volatile US Treasury market. The months
of October and November, typically a period of waning demand and weaker performance, were positive for the municipal market in 2012 as
supply-and-demand technicals continued to be strong going into the fourth quarter. Additionally, the perception of higher taxes given the outcome of
the US Presidential election provided further support to municipal bond prices in November.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Seasonal year-end selling pressure typically results in elevated
volatility in the final month of the year; however, December of 2012 was more volatile than the historical norm due to a partial unwinding of
November&#146;s rally coupled with uncertainty around the fiscal cliff (i.e., automatic tax increases and spending cuts that had been scheduled to take
effect at the beginning of 2013 unless politicians could agree upon alternate measures to reduce the deficit before the end of 2012). Positive
performance in January 2013 was the product of renewed demand in an asset class known for its lower volatility and preservation of earnings as tax
rates rise. For the month, municipal bonds significantly outperformed the US Treasury market, where yields rose on an uptick in US economic data. As
the period drew to a close, municipal market participants were focused on Washington and the scheduled spending cuts as well as the upcoming tax
season.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">From January 31, 2012 to January 31, 2013, yields declined by 28
basis points (&#147;bps&#148;) to 2.86% on AAA-rated 30-year municipal bonds, but rose 14 bps to 1.82% on 10-year bonds and 8 bps to 0.79% on 5-year
bonds (as measured by Thomson Municipal Market Data). Overall, the municipal yield curve remained relatively steep, but flattened over the 12-month
time period as the spread between 2- and 30-year maturities tightened by 29 bps, while the spread widened in the 2- to 10-year range 13 bps.</FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The fundamental picture for municipalities continues to improve.
Austerity and de-leveraging have been the general themes across the country as states set their budgets, although a small number of states continue to
rely on a &#147;kick-the-can&#148; approach to close their budget gaps, using aggressive revenue projections and accounting gimmicks. It has been over
two years since the fiscal problems plaguing state and local governments first became highly publicized and the prophecy of widespread defaults across
the municipal market has not materialized. BlackRock maintains the view that municipal bond defaults will be minimal and remain in the periphery and
the overall market is fundamentally sound. We continue to recognize that careful credit research and security selection remain imperative amid
uncertainty in this economic environment.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">Past performance is no guarantee of
future results. Index performance is shown for illustrative purposes only. You cannot invest directly in an index.</DIV></FONT></P>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">5<BR></TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock California
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock California Municipal Income Trust&#146;s (BFZ) (the
&#147;Trust&#148;)</B> investment objective is to provide current income exempt from regular US federal income and California income taxes. The Trust
seeks to achieve its investment objective by investing primarily in municipal obligations exempt from federal income taxes (except that the interest
may be subject to the federal alternative minimum tax) and California income taxes. The Trust invests, under normal market conditions, at least 80% of
its assets in municipal obligations that are investment grade quality. The Trust may invest directly in such securities or synthetically through the
use of derivatives.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.<BR>
</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Performance</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six-month period ended January 31, 2013, the Trust
returned 4.95% based on market price and 4.49% based on NAV. For the same period, the closed-end Lipper California Municipal Debt Funds category posted
an average return of 4.12% based on market price and 4.74% based on NAV. All returns reflect reinvestment of dividends. The Trust&#146;s premium to
NAV, which widened during the period, accounts for the difference between performance based on price and performance based on NAV. The following
discussion relates to performance based on NAV. The Trust&#146;s concentration of holdings within the 20- to 25-year maturity range contributed
positively to performance, as rates declined in that segment of the municipal yield curve. Investments in the health, education, transportation and
utilities sectors were strong contributors as these segments outperformed the broader tax-exempt market during the period. Positive results also came
from purchases of zero-coupon bonds that Trust management had identified as undervalued. In addition, exposure to higher-quality essential service
revenue bonds enhanced performance. The Trust did not, however, hold exposure to the tobacco sector, which posted exceptional gains during the
period.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">The views expressed reflect the opinions
of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not
intended to be a forecast of future events and are no guarantee of future results.<BR>
</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on New York Stock Exchange (&#147;NYSE&#148;)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">July 27, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yield on Closing Market Price as of January 31, 2013 ($16.98)<SUP>1</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">5.49%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Yield<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">9.70%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.0777</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.9324</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">39%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Yield on closing market price is calculated by dividing the
current annualized distribution per share by the closing market price. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The distribution rate is not constant and is subject to
change.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents VMTP Shares and TOBs as a percentage of total managed
assets, which is the total assets of the Trust, including any assets attributable to VMTP Shares and TOBs, minus the sum of accrued liabilities. For a
discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">6</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
color=gray STYLE="font-size: 10pt"></FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock California
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>7/31/12</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Change</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>High</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Low</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.98</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.64</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2.04</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.52</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.92</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.58</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.32</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.59</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.04</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.08</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>7/31/12</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">37</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">29</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">29</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Housing</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>7/31/12</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">72</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">71</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BBB/Baa</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Using the higher of Standard &amp; Poor&#146;s
(&#147;S&amp;P&#146;s&#148;) or Moody&#146;s Investors Service (&#147;Moody&#146;s&#148;) ratings.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>2</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years.</FONT></TD>
</TR>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">7<BR></TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013 </FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Florida
Municipal 2020 Term Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock Florida Municipal 2020 Term Trust&#146;s (BFO) (the
&#147;Trust&#148;)</B> investment objectives are to provide current income exempt from regular federal income tax and Florida intangible personal
property tax and to return $15.00 per common share (the initial offering price per share) to holders of common shares on or about December 31, 2020.
The Trust seeks to achieve its investment objectives by investing at least 80% of its assets in municipal bonds exempt from federal income taxes
(except that the interest may be subject to the federal alternative minimum tax) and Florida intangible personal property tax. The Trust invests at
least 80% of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust actively manages the maturity of its
bonds to seek to have a dollar weighted average effective maturity approximately equal to the Trust&#146;s maturity date. The Trust may invest directly
in such securities or synthetically through the use of derivatives. Effective January 1, 2007, the Florida intangible personal property tax was
repealed.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Performance</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six-month period ended January 31, 2013, the Trust
returned 1.93% based on market price and 2.13% based on NAV. For the same period, the closed-end Lipper Other States Municipal Debt Funds category
posted an average return of 3.20% based on market price and 2.79% based on NAV. All returns reflect reinvestment of dividends. The Trust&#146;s
discount to NAV, which widened during the period, accounts for the difference between performance based on price and performance based on NAV. The
following discussion relates to performance based on NAV. The Trust&#146;s positive performance was derived mainly from its coupon income component as
municipal market performance during the six-month period, although positive, was less robust than it had been in the prior eighteen months. The
Trust&#146;s zero-coupon bond holdings also contributed positively due to price appreciation in this segment. Exposure to lower-quality credits boosted
results given strong demand from investors seeking higher-yielding investments in the low interest rate environment. Interest rates inched higher
during the period, which negatively impacted performance (bond prices fall as rates rise). Exposure to Puerto Rico debt detracted from performance as
concerns about credit rating agency downgrades resulted in wider credit spreads (falling prices) for Puerto Rico municipal securities
broadly.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">The views expressed reflect the opinions
of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not
intended to be a forecast of future events and are no guarantee of future results.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on NYSE</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">September 30, 2003</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Termination Date (on or about)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">December 31, 2020</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yield on Closing Market Price as of January 31, 2013 ($15.57)<SUP>1</SUP> </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">4.32%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Yield<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">7.63%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.0560</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.6720</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">23%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Yield on closing market price is calculated by dividing the
current annualized distribution per share by the closing market price. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The distribution rate is not constant and is subject to
change.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents AMPS and TOBs as a percentage of total managed assets,
which is the total assets of the Trust, including any assets attributable to AMPS and TOBs, minus the sum of accrued liabilities. For a discussion of
leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">8</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
color=gray STYLE="font-size: 10pt"></FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Florida
Municipal 2020 Term Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Change</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.57</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.60</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(0.19</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.34</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.52</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value</FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.05</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.05</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.00</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.39</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.86</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">30</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">40</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corporate</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Housing</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">47</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">45</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">26</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBB/Baa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Not Rated<SUP>2</SUP></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Using the higher of S&amp;P&#146;s or Moody&#146;s
ratings.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"> The investment advisor has deemed certain of these non-rated
securities to be of investment grade quality. As of January 31, 2013 and July 31, 2012, the market value of these securities was $4,077,259,
representing 4%, and $7,213,160, representing 5%, respectively, of the Trust&#146;s long-term investments.</FONT></TD>
</TR>
</TABLE>


<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>3</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years. </FONT></TD>
</TR>
</TABLE>



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<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">9<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013 </FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock Municipal Income Investment Trust&#146;s (BBF) (the
&#147;Trust&#148;)</B> investment objective is to provide current income exempt from regular federal income tax and Florida intangible personal
property tax. The Trust seeks to achieve its investment objective by investing primarily in municipal bonds exempt from federal income taxes (except
that the interest may be subject to the federal alternative minimum tax). The Trust invests at least 80% of its assets in municipal bonds that are
investment grade quality at the time of investment. The Trust may invest directly in such securities or synthetically through the use of derivatives.
Due to the repeal of the Florida intangible personal property tax, the Board approved an amended policy in September 2008 allowing the Trust the
flexibility to invest in municipal obligations regardless of geographical location.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Performance</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six-month period ended January 31, 2013, the Trust
returned 2.84% based on market price and 4.07% based on NAV. For the same period, the closed-end Lipper General &amp; Insured Municipal Debt Funds
(Leveraged) category posted an average return of 3.22% based on market price and 4.25% based on NAV. All returns reflect reinvestment of dividends. The
Trust&#146;s premium to NAV, which narrowed during the period, accounts for the difference between performance based on price and performance based on
NAV. The following discussion relates to performance based on NAV. The Trust&#146;s holdings in the health, utilities and transportation sectors
contributed positively to performance for the period. Holdings of lower-quality credits in those sectors were the strongest contributors due to strong
demand from investors seeking higher-yielding investments in the low interest rate environment. Conversely, exposure to Puerto Rico sales tax bonds had
a negative impact on performance as the continued decline of Puerto Rico&#146;s economy and concerns about credit rating agency downgrades resulted in
falling prices across all Puerto Rico securities.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">The views expressed reflect the opinions
of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not
intended to be a forecast of future events and are no guarantee of future results.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on NYSE</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">July 27, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yield on Closing Market Price as of January 31, 2013 ($16.27)<SUP>1</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">5.34%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Yield<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">9.43%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.072375</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.868500</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">39%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Yield on closing market price is calculated by dividing the
current annualized distribution per share by the closing market price. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The distribution rate is not constant and is subject to
change.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents VRDP Shares and TOBs as a percentage of total managed
assets, which is the total assets of the Trust, including any assets attributable to VRDP Shares and TOBs, minus the sum of accrued liabilities. For a
discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">10</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
color=gray STYLE="font-size: 10pt"></FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Change</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.27</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.25</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.75</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.51</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value</FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.91</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.32</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.74</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.67</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corporate</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tobacco</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">54</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">54</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBB/Baa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Not Rated</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
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<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Using the higher of S&amp;P&#146;s or Moody&#146;s
ratings.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>2</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years. </FONT></TD>
</TR>
</TABLE>

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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">11<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
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<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013 </FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock Municipal Target Term Trust&#146;s (BTT) (the
&#147;Trust&#148;)</B> investment objectives are to provide current income exempt from regular federal income tax (but which may be subject to the
federal alternative minimum tax in certain circumstances) and to return $25.00 per common share (the initial offering price per share) to holders of
common shares on or about December 31, 2030. The Trust seeks to achieve its investment objectives by investing at least 80% of its assets in municipal
bonds exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax). The Trust invests at least 80%
of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust actively manages the maturity of its bonds to
seek to have a dollar weighted average effective maturity approximately equal to the Trust&#146;s maturity date. The Trust may invest directly in such
securities or synthetically through the use of derivatives.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on NYSE</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">August 30, 2012</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Termination Date (on or about) </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">December 31, 2030</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Distribution Rate on Closing Market Price as of January 31, 2013 ($23.94)<SUP>1</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">4.96%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Rate<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">8.76%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.0990</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$1.1880</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="95%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">36%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Current Distribution Rate on closing market price is calculated by
dividing the current annualized distribution per share by the closing market price. The current distribution rate may consist of income, net realized
gains and/or a tax return of capital. See the Additional Information &#151; Section 19(a) Notice for the estimated character of dividends and
distributions. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The distribution rate is not constant and is subject to change. A
portion of the distribution may be deemed a tax return of capital or net realized gain at fiscal year end.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents RVMTP Shares and TOBs as a percentage of total managed
assets, which is the total assets of the Trust, including any assets attributable to RVMTP Shares and TOBs, minus the sum of accrued liabilities. For a
discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">12</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
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<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
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ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>8/30/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Change</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23.94</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25.00</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(4.24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25.49</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22.75</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value</FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23.86</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23.88</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(0.08</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">24.56</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23.69</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
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     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corporate</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tobacco </FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: center"><B>1/31/13</B></TD></TR>
<TR STYLE="vertical-align: bottom">
     <TD COLSPAN="7" STYLE="text-align: left"><HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="color: #000000"></TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">40</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">42</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBB/Baa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BB/Ba </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">B</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Not Rated</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"> Using the higher of S&amp;P&#146;s or Moody&#146;s
ratings.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>2</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years. </FONT></TD>
</TR>
</TABLE>

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<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">13<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013 </FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New Jersey
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock New Jersey Municipal Income Trust&#146;s (BNJ) (the
&#147;Trust&#148;)</B> investment objective is to provide current income exempt from regular federal income tax and New Jersey gross income tax. The
Trust seeks to achieve its investment objective by investing primarily in municipal bonds exempt from federal income taxes (except that the interest
may be subject to the federal alternative minimum tax) and New Jersey gross income taxes. The Trust invests at least 80% of its assets in municipal
bonds that are investment grade quality at the time of investment. The Trust may invest directly in such securities or synthetically through the use of
derivatives.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Performance</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six-month period ended January 31, 2013, the Trust
returned 4.26% based on market price and 3.37% based on NAV. For the same period, the closed-end Lipper New Jersey Municipal Debt Funds category posted
an average return of 3.10% based on market price and 3.65% based on NAV. All returns reflect reinvestment of dividends. The Trust&#146;s premium to
NAV, which widened during the period, accounts for the difference between performance based on price and performance based on NAV. The following
discussion relates to performance based on NAV. The Trust&#146;s holdings in the health, corporate-backed and housing sectors contributed positively to
performance for the period. Holdings of lower-quality credits in those sectors were the strongest contributors due to strong demand from investors
seeking higher-yielding investments in the low interest rate environment. Conversely, exposure to Puerto Rico sales tax bonds had a negative impact on
performance as the continued decline of Puerto Rico&#146;s economy and concerns about credit rating agency downgrades resulted in falling prices across
all Puerto Rico securities.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">The views expressed reflect the opinions
of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not
intended to be a forecast of future events and are no guarantee of future results.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on NYSE</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">July 27, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yield on Closing Market Price as of January 31, 2013 ($17.90)<SUP>1</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">5.44%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Yield<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">9.61%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.0811</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.9732</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">37%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Yield on closing market price is calculated by dividing the
current annualized distribution per share by the closing market price. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The Monthly Distribution per Common Share, declared on March 1,
2013, was decreased to $0.0751 per share. The Yield on Closing Market Price, Current Monthly Distribution per Common Share and Current Annualized
Distribution per Common Share do not reflect the new distribution rate. The new distribution rate is not constant and is subject to change in the
future.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents VMTP Shares and TOBs as a percentage of total managed
assets, which is the total assets of the Trust, including any assets attributable to VMTP Shares and TOBs, minus the sum of accrued liabilities. For a
discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">14</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New Jersey
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
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     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Change</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.90</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.67</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.30</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18.60</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.94</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.17</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.43</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.75</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.93</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
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     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">35</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corporate</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities </FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tobacco</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">34</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">33</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBB/Baa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BB/Ba</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">B</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Not Rated<SUP>2</SUP></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Using the higher of S&amp;P&#146;s or Moody&#146;s
ratings.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"> The investment advisor has deemed certain of these non-rated
securities to be of investment grade quality. As of January 31, 2013 and July 31, 2012, the market value of these securities was $8,483,135 and
$8,510,074, each representing 4%, respectively, of the Trust&#146;s long-term investments.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>3</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years. </FONT></TD>
</TR>
</TABLE>



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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">15<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Trust Summary</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;as of January 31, 2013 </FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Overview</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>BlackRock New York Municipal Income Trust&#146;s (BNY) (the
&#147;Trust&#148;)</B> investment objective is to provide current income exempt from regular federal income tax and New York State and New York City
personal income taxes. The Trust seeks to achieve its investment objective by investing primarily in municipal bonds exempt from federal income taxes
(except that the interest may be subject to the federal alternative minimum tax) and New York State and New York City personal income taxes. The Trust
invests at least 80% of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust may invest directly in
such securities or synthetically through the use of derivatives.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">No assurance can be given that the
Trust&#146;s investment objective will be achieved.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Performance</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six-month period ended January 31, 2013, the Trust
returned 3.43% based on market price and 3.48% based on NAV. For the same period, the closed-end Lipper New York Municipal Debt Funds category posted
an average return of 2.41% based on market price and 2.78% based on NAV. All returns reflect reinvestment of dividends. The Trust&#146;s premium to
NAV, which narrowed during the period, accounts for the difference between performance based on price and performance based on NAV. The following
discussion relates to performance based on NAV. The Trust benefited from its exposure to higher-yielding sectors and lower-quality bonds, which
performed well due to strong demand from investors seeking higher-yielding investments in the low interest rate environment. The Trust&#146;s exposures
to transportation and education boosted returns as these sectors performed well during the period. Holdings of health and corporate-backed bonds were
also strong contributors. Additionally, the Trust benefited from the roll-down effect, whereby effective maturities become shorter with the passing of
the year and therefore bonds are evaluated at lower yield levels, which, in a steep yield curve environment, results in higher prices. Detracting from
performance was the Trust&#146;s long duration posture (higher sensitivity to interest rates) as municipal bond yields moved slightly higher in most
maturities, while remaining unchanged or moving slightly lower in the 20- to 25-year range. Also having a negative impact on results was the
Trust&#146;s exposure to the tax-backed sector (the Trust&#146;s most significant credit exposure), which was one of the weaker performing sectors for
the period. The strongest performing sector during the period was tobacco, in which the Trust held limited exposure. Exposure to Puerto Rico debt
detracted from performance as concerns about credit rating agency downgrades resulted in wider credit spreads (falling prices) for Puerto Rico
municipal securities broadly.</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT">The views expressed reflect the opinions
of BlackRock as of the date of this report and are subject to change based on changes in market, economic or other conditions. These views are not
intended to be a forecast of future events and are no guarantee of future results.</DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Trust Information</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 12px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Symbol on NYSE</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Initial Offering Date</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">July 27, 2001</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yield on Closing Market Price as of January 31, 2013 ($16.82)<SUP>1</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">5.35%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
Equivalent Yield<SUP>2</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">9.45%</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Monthly Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.0750</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Current Annualized Distribution per Common Share<SUP>3</SUP></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$0.9000</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Economic Leverage as of January 31, 2013<SUP>4</SUP></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">39%</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Yield on closing market price is calculated by dividing the
current annualized distribution per share by the closing market price. Past performance does not guarantee future results.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Tax equivalent yield assumes the maximum marginal federal tax rate
of 43.4%, which includes the 3.8% Medicare tax. Actual tax rates will vary based on income, exemptions and deductions. Lower taxes will result in lower
tax equivalent yields.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The Monthly Distribution per Common Share, declared on March 1,
2013, was decreased to $0.0690 per share. The Yield on Closing Market Price, Current Monthly Distribution per Common Share and Current Annualized
Distribution per Common Share do not reflect the new distribution rate. The new distribution rate is not constant and is subject to change in the
future.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Represents VMTP Shares and TOBs as a percentage of total managed
assets, which is the total assets of the Trust, including any assets attributable to VMTP Shares and TOBs, minus the sum of accrued liabilities. For a
discussion of leveraging techniques utilized by the Trust, please see The Benefits and Risks of Leveraging on page 4.</FONT></TD>
</TR>
</TABLE>
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<TR>
<TD STYLE="text-align: left; width: 33%">16</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013</TD></TR></TABLE>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT
color=gray STYLE="font-size: 10pt"></FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust<BR></FONT></B></TD></TR></TABLE>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Market Price and Net Asset Value</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The table below summarizes the changes in the Trust&#146;s market
price and NAV per share:</DIV></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><HR SIZE="1" NOSHADE COLOR="#000000"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Change</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Market Price </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.82</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.73</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.54</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17.24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.92</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net Asset Value </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.62</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.53</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.58</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16.16</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15.30</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following charts show the sector allocation, credit quality
allocation and call/maturity structure of the Trust&#146;s long-term investments: </DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Sector Allocation</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County/City/Special District/School District</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Transportation</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Utilities</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Health</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corporate</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tobacco</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Credit Quality Allocation<SUP>1</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></DIV></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>1/31/13</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>7/31/12</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AAA/Aaa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">AA/Aa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">34</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">A</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">34</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">32</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBB/Baa</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BB/Ba</FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Not Rated</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Using the higher of S&amp;P&#146;s or Moody&#146;s
ratings.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"> The investment advisor has deemed certain of these non-rated
securities to be of investment grade quality. As of January 31, 2013, the market value of these securities was $2,502,575 representing 1%, of the
Trust&#146;s long-term investments.</FONT></TD>
</TR>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><b>Call/Maturity Structure<SUP>3</SUP></FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></DIV></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Calendar Year Ended December 31,<BR></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2013 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2014 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2015 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">2016 </FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">2017 </FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Scheduled maturity dates and/or bonds that are subject to
potential calls by issuers over the next five years.</FONT></TD>
</TR>
</TABLE>



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<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">17<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV></DIV>
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width: 50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
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<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial">
<TR>
<TD STYLE="width: 55%"></TD>
<TD STYLE="width: 45%"></TD></TR>
<TR vAlign=bottom>
<TD NOWRAP STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD NOWRAP STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><B><FONT color=gray>BlackRock California
Municipal Income Trust (BFZ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California &#151; 92.0%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Corporate &#151; 0.2%</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 6pt; text-indent: -6pt">City of Chula Vista California, Refunding RB, San Diego Gas &amp; Electric, Series A, 5.88%,
2/15/34</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;801,414</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>County/City/Special District/School District &#151; 33.5%</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Butte-Glenn Community College District, GO, Election of 2002, Series C, 5.50%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,877,554</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California State Public Works Board, RB, Various Capital Projects, Sub-Series I-1, 6.63%, 11/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,950</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,874,377</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Cerritos Community College District, GO, Election of 2004, Series C, 5.25%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,460,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of San Jose California Hotel Tax, RB, Convention Center Expansion &amp; Renovation Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.13%, 5/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">610,555</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.50%, 5/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,492,499</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.50%, 5/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,225</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,712,053</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Kern California, COP, Capital Improvements Projects, Series A (AGC), 6.00%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,344,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">County of Los Angeles California Public Works Financing Authority, Refunding RB, Multiple Capital Projects II, 5.00%, 8/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,174,574</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Evergreen Elementary School District, GO, Election of 2006, Series B (AGC), 5.13%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,835,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Grossmont Healthcare District, GO, Election of 2006, Series B:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 7/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,751,218</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.13%, 7/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,453,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Long Beach Unified School District California, GO, Refunding, Election of 2008, Series A, 5.75%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,909,361</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Los
Alamitos Unified School District California, GO, School Facilities Improvement District No. 1, 5.50%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,665,126</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Municipal Improvement Corp., Refunding RB, Real Property, Series B (AGC), 5.50%, 4/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,676,276</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Modesto Irrigation District, COP, Capital Improvements, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 10/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,462,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 10/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">204,953</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Oak
Grove School District California, GO, Election of 2008, Series A, 5.50%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,014,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Water District, COP, Refunding, 5.25%, 8/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,360,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pico Rivera Public Financing Authority, RB, 5.75%, 9/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,290,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pittsburg Unified School District, GO, Election of 2006, Series B (AGC), 5.50%, 8/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,282,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>County/City/Special District/School District (concluded)</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Sacramento Area Flood Control Agency, Special Assessment Bonds, Consolidated Capital Assessment District, 5.25%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;3,504,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego Community College District California, GO, Election of 2002, 5.25%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,823,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">San
Diego Regional Building Authority California, RB, County Operations Center &amp; Annex, Series A, 5.38%, 2/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,353,385</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Jose Financing Authority, Refunding RB, Civic Center Project, Series B (AMBAC), 5.00%, 6/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,019,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Leandro Unified School District California, GO, Election of 2010, Series A, 5.75%, 8/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,674,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Santa Ana Unified School District, GO, Election of 2008, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,455</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,358,894</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.13%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,043,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Santa Clara County Financing Authority, Refunding LRB, Series L, 5.25%, 5/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23,915,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Snowline Joint Unified School District, COP, Refunding, Refining Project (AGC), 5.75%, 9/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,599,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Torrance Unified School District California, GO, Election of 2008, Measure Z, 6.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,784,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tustin Unified School District, GO, Election of 2008, Series B, 5.25%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,445</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,109,988</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">West Contra Costa Unified School District, GO, Election of 2010, Series A (AGM), 5.25%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,628,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Westminster Redevelopment Agency California, Tax Allocation Bonds, Subordinate, Commercial Redevelopment Project No. 1 (AGC), 6.25%,
11/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,286,128</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">William S. Hart Union High School District, GO, CAB, Refunding, Series B (AGM) (a):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.68%, 8/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,124,051</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.69%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,451,756</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">177,131,278</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 2.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Educational Facilities Authority, Refunding RB, San Francisco University, 6.13%, 10/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,736,332</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Municipal Finance Authority, RB, Emerson College, 5.75%, 1/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,976,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, RB, Series O, 5.38%, 5/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">579,939</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, Refunding RB, Series S, 5.00%, 5/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,640,233</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">14,932,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Portfolio Abbreviations</B></FONT></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">

<TR STYLE="vertical-align: top">
     <TD STYLE="text-align: left"></TD>
</TR>
<TR STYLE="vertical-align: top">
     <TD COLSPAN="7" STYLE="text-align: left; padding-bottom: 6pt">To simplify the listings of portfolio holdings in the Schedules of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:</TD></TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>ACA</B></DIV></FONT></TD>
     <TD STYLE="width: 2%">&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">American Capital Access Corp.</DIV></FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>GO</B></DIV></FONT></TD>
     <TD STYLE="width: 2%">&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">General Obligation Bonds</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>AGC</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Assured Guaranty Corp.</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>HDA</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing Development Authority</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>AGM</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Assured Guaranty Municipal Corp.</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>HFA</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing Finance Agency</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>AMBAC</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">American Municipal Bond Assurance Corp.</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>IDA</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Industrial Development Authority</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>AMT</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Alternative Minimum Tax (subject to)</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>IDB</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Industrial Development Board</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>ARB</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Airport Revenue Bonds</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>ISD</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Independent School District</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>BARB</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Building Aid Revenue Bonds</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>LRB</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Lease Revenue Bonds</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>BHAC</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Berkshire Hathaway Assurance Corp.</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>M/F</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Multi-Family</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>CAB</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Capital Appreciation Bonds</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>NPFGC</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">National Public Finance Guarantee Corp.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>CIFG</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">CDC
IXIS Financial Guaranty</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>PILOT</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Payment in Lieu of Taxes</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>COP</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Certificates of Participation</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Radian</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Radian Financial Guaranty</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>EDA</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Economic Development Authority</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>RB</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Revenue Bonds</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>EDC</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Economic Development Corp.</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>S/F</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Single-Family</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>ERB</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Education Revenue Bonds</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>SONYMA</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of New York Mortgage Agency</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>FHA</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Federal Housing Administration</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>VRDN</B></DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Variable Rate Demand Notes</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>GARB</B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">General Airport Revenue Bonds</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TABLE>
<!-- agabop mode="ep" last-style="soi_notes" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
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<TR>
<TD STYLE="text-align: left; width: 33%">18</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock California
Municipal Income Trust (BFZ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health &#151; 15.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">ABAG Finance Authority for Nonprofit Corps, Refunding RB, Sharp Healthcare:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.38%, 8/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;3,055</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;3,275,143</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.25%, 8/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,484,851</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 6.00%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,791,380</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Health Facilities Financing Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Adventist Health System West, Series A, 5.75%, 9/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,655</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,723,527</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Catholic Healthcare West, Series J, 5.63%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,739,970</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Children&#146;s Hospital, Series A, 5.25%, 11/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,118,253</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Scripps Health, Series A, 5.00%, 11/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">225</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">257,101</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Scripps Health, Series A, 5.00%, 11/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,555</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,006,876</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sutter Health, Series A, 5.25%, 11/15/46</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,744,144</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sutter Health, Series B, 6.00%, 8/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,015</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,228,887</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Health Facilities Financing Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Catholic Healthcare West, Series A, 6.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,191,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Catholic Healthcare West, Series A, 6.00%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,215,892</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Catholic Healthcare West, Series A, 6.00%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,603,788</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Providence Health, 6.50%, 10/01/18 (b)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">32,552</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Providence Health, 6.50%, 10/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,090</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,944,401</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Statewide Communities Development Authority, RB, Series A Kaiser Permanente, 5.00%, 4/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,598,733</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Statewide Communities Development Authority, Refunding RB, Catholic Healthcare West:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.50%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,306,734</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.50%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,965</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">5,511,646</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">83,775,128</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 8.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California State Public Works Board, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Department of Education, Riverside Campus Project, Series B, 6.50%, 4/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,961,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Various Capital Projects, Sub-Series I-1, 6.38%, 11/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,164,268</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of California, GO, Various Purpose:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 3/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,317,031</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.50%, 4/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,935</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,379,579</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 4/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,790,785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">43,613,483</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 13.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Los Angeles Department of Airports, RB, Los Angeles International Airports, Series B, 5.00%, 5/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,615,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Los Angeles Department of Airports, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Los Angeles International Airport, Sub-Series C, 5.25%, 5/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,455</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,630,531</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.00%, 5/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,832,531</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of San Jose California, Refunding ARB, California Airport, Series A-1, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 3/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,639,546</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.25%, 3/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,190,176</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Orange California, ARB, Series B, 5.75%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,234,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Sacramento California, ARB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">PFC/Grant, Sub-Series D, 6.00%, 7/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,540,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Senior Series B, 5.75%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,171,215</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Harbor Department, RB, Series B, 5.25%, 8/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,467,833</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego County Regional Airport Authority, RB, Senior, Series B, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,373,170</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,602,665</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Francisco City &amp; County Airports Commission, RB, Series E, 6.00%, 5/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;6,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;8,048,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Joaquin County Transportation Authority, Refunding RB, Limited Tax, Measure K, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 3/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,594,413</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 3/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">5,922,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">68,863,368</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 18.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Anaheim Public Financing Authority, RB, Anaheim Electric System Distribution Facilities:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 10/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,697,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.38%, 10/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,690</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,095,501</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California Infrastructure &amp; Economic Development Bank, RB, California Independent System Operator, Series A, 6.25%, 2/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,991,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Calleguas-Las Virgines Public Financing Authority California, RB, Calleguas Municipal Water District Project, Series A (NPFGC), 5.13%,
7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,336,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chula Vista California, Refunding RB, San Diego Gas &amp; Electric:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.88%, 1/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,946,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.88%, 1/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,660,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Los Angeles California Wastewater System, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.00%, 6/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,236,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A (NPFGC), 5.00%, 6/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,879,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series A, 5.00%, 6/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,631,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Petaluma California Wastewater, Refunding RB, 6.00%, 5/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,909,919</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Dublin-San Ramon Services District, Refunding RB, 6.00%, 8/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,948,655</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Department of Water &amp; Power, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Power System, Sub-Series A-1, 5.25%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,344,690</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.38%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,578,870</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Department of Water &amp; Power, Refunding RB, Power System:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.25%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,657,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series A-2, 5.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,239,116</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego County Water Authority, COP, Refunding, Series A (NPFGC), 5.00%, 5/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,860,046</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego Public Facilities Financing Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Senior Series A, 5.25%, 5/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,944,763</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.25%, 8/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,842,056</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">96,800,496</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in California</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">485,917,771</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Multi-State &#151; 1.6%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 1.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Centerline Equity Issuer Trust (c)(d):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.20%, 11/15/14</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,824,695</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 5/15/15</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">543,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 5/15/15</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,638,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 5/15/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,188,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 30px; TEXT-INDENT: -10px">6.30%, 5/15/19</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,203,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in Multi-State</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,399,465</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 93.6%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">494,317,236</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_notes" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">19<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_02-51807-soi PAGE POSITION: 2 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_02-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_notes" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock California
Municipal Income Trust (BFZ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>Tender
Option Bond Trusts (e)<BR></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California &#151; 69.7%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>County/City/Special District/School District &#151; 25.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">El
Dorado Union High School District, GO, Election of 2008, 5.00%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;5,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;5,657,490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Community College District California, GO:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Election of 2001, Series A (AGM), 5.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,148,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Election of 2003, Series F-1, 5.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,736,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Election of 2008, Series C, 5.25%, 8/01/39 (f)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,651,699</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Los
Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,131</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25,196,077</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Unified School District California, GO, Series I, 5.00%, 1/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,627,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Mount San Antonio Community College District California, GO, Election of 2001, Series C (AGM), 5.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,602,736</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Ohlone Community College District, GO, Series B (AGM), 5.00%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,499</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,921,787</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">San
Bernardino Community College District California, GO, Election of 2002, Series C (AGM), 5.00%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,208,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego Community College District California, GO:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Election of 2002, 5.25%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,484</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,744,331</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Election of 2006 (AGM), 5.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,398,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">San Jose Unified School District Santa Clara County California, GO, Election of 2002, Series D, 5.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,492,882</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">134,385,952</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 14.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/39 (f)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,171,818</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Grossmont Union High School District, GO, Election of 2004, 5.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,497,678</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Mount Diablo California Unified School District, GO, Election of 2002, 5.00%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,235,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Mateo County Community College District, GO, Election of 2005, Series B, 5.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,730,066</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Limited Project, Series D (AGM), 5.00%, 5/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,903,004</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series O, 5.75%, 5/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,899,769</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, Refunding RB, Limited Project, Series G, 5.00%, 5/15/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,841</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,045,203</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">74,483,378</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">City of Los Angeles California Department of Airports, Refunding RB, Los Angeles International Airport,
Senior Series A, 5.00%, 5/15/40</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,999</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">5,656,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>Tender
Option Bond Trusts (e)<BR></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">California (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 29.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California State Department of Water Resources, Refunding RB, Central Valley Project, Series AE, 5.00%, 12/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;8,209,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Napa California Water System, RB (AMBAC), 5.00%, 5/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,253,830</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">East Bay Municipal Utility District, RB, Sub-Series A (NPFGC), 5.00%, 6/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,259,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Eastern Municipal Water District, COP, Series H, 5.00%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,002</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,362,917</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Department of Water &amp; Power, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Power System, Sub-Series A-1 (AMBAC), 5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,998</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,018,904</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Water System, Sub-Series A-2 (AGM), 5.00%, 7/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,245,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Water District of Southern California, RB, Series A, 5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,761,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Sanitation District, COP, Series B (AGM), 5.00%, 2/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,508,247</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Water District, COP, Refunding, 5.00%, 8/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,963,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego County Water Authority, COP, Refunding, Series 2008-A (AGM), 5.00%, 5/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,152,844</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego Public Facilities Financing Authority, Refunding RB, Senior Series A, 5.25%, 5/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,457</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,183,231</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">San
Francisco City &amp; County Public Utilities Commission, RB, Water System Improvement Project, Sub-Series A, 5.00%, 11/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,698</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,745,392</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Francisco City &amp; County Public Utilities Commission, Refunding RB, Senior Series A, 5.00%, 11/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,236,347</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">153,899,799</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151; 69.7%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">368,425,314</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $766,631,279) &#151; 163.3%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">862,742,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Short-Term Securities</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B>Shares</B></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B></B>&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BIF California Municipal Money Fund, 0.00% (g)(h)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">2,217,891</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $2,217,891) &#151; 0.4%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Total Investments (Cost&#151;$768,849,170) &#151; 163.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">864,960,441</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Other Assets Less Liabilities &#151; 0.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,894,870</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable &#151; (32.0)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(169,255,288</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>VMTP Shares, at Liquidation Value &#151; (32.4)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(171,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">528,300,023</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">US
government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated,
typically at a premium to par.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by
various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated
maturity.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in
transactions exempt from registration to qualified institutional investors.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as
collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred to
TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(f)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">All
or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a
shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a
shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements is $13,385,000.</DIV></FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_notes" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">20</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_02-51807-soi PAGE POSITION: 4 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_notes" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock California
Municipal Income Trust (BFZ)<BR>&nbsp;<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(g)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of Section 2(a)(3) of
the 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 2pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px">BIF California Municipal Money Fund</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">7,953,278</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">(5,735,387)</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">2,217,891</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$17</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(h)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;&nbsp;&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Financial futures contracts as of January 31, 2013 were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="15%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Contracts<BR> Sold</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Issue</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Exchange</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Expiration</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" WIDTH="2%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Notional<BR> Value</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Unrealized<BR> Appreciation</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; width: 15%; border-bottom: windowtext 1pt solid; vertical-align: top"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">(150)</DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">10-Year US Treasury Note</DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Chicago Board of Trade</DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">March 2013</DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; width: 2%; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$19,692,188</DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">150,929</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">For Trust compliance purposes, the Trust&#146;s sector classifications refer to any one or more of the sector sub-classifications
used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Trust management. These definitions may not apply
for purposes of this report, which may combine such sector sub-classifications for reporting ease.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Fair Value Measurements&#151;Various inputs are used in determining the fair value of investments and derivative financial
instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial statement
purposes as follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the
ability to access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets
that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are
not available (including the Trust&#146;s own assumptions used in determining the fair value of investments and derivative financial
instruments)</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair
value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value
hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety
is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In
accordance with the Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of
the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the
pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing
in those securities. For information about the Trust&#146;s policy regarding valuation of investments and derivative financial instruments and other
significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The following tables summarize the Trust&#146;s investments and derivative financial instruments categorized in the disclosure
hierarchy as of January 31, 2013:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">862,742,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">862,742,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;862,742,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;864,960,441</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>1</TD>
<TD>See above Schedule of Investments for values in each sector. </TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD COLSPAN="8" STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Derivative Financial Instruments<SUP>2<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Interest rate contracts</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2px solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;150,929</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2px solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2px solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2px solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150,929</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>2</TD>
<TD>Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.
</TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Certain of the Trust&#146;s assets and liabilities are held at carrying amount, which approximates fair value for financial statement
purposes. As of January 31, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Cash pledged as collateral for financial futures contracts</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">198,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">198,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Bank overdraft </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(159,332</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(159,332</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(169,154,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(169,154,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">VMTP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(171,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(171,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;198,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">
(340,613,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(340,415,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">There were no transfers between levels during the six months ended January 31, 2013.</DIV></FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">21<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_02-51807-soi PAGE POSITION: 4 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Florida
Municipal 2020 Term Trust (BFO)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Florida &#151; 125.8%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Corporate &#151; 4.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hillsborough County IDA, Refunding RB, Tampa Electric Co. Project, Series A, 5.65%, 5/15/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;1,191,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Palm Beach County Solid Waste Authority, Refunding RB, 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,437,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,629,880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>County/City/Special District/School District &#151; 38.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Broward County School Board Florida, COP, Series A (AGM), 5.25%, 7/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,900,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Broward County School Board Florida, COP, Refunding, Series A, 5.00%, 7/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,382,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Jacksonville Florida, Refunding RB, Better Jacksonville Sales Tax, 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,879,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Hillsborough Florida, RB (AMBAC), 5.00%, 11/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,545</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,422,607</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida State Board of Education, GO, Refunding:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Capital Outlay, Series B, 5.00%, 6/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">485</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">594,169</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Public Education, Series I, 5.00%, 6/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">385</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">394,933</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hillsborough County School Board, COP (NPFGC), 5.00%, 7/01/13 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,019,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Miami-Dade County Educational Facilities Authority Florida, RB, University of Miami, Series A (AMBAC), 5.00%, 4/01/14 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,054,930</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Miami-Dade County School Board, COP, Refunding, Series B (AGC), 5.25%, 5/01/21</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,719,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Northern Palm Beach County Improvement District, Special Assessment Bonds, Refunding, Water Control &amp; Improvement District No. 43, Series B
(ACA), 4.50%, 8/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,020,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Sterling Hill Community Development District, Special Assessment Bonds, Refunding, Series A, 6.10%, 5/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,139,709</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Stevens Plantation Improvement Project Dependent Special District, RB, 6.38%, 5/01/13 (b)(c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,820,932</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Village Center Community Development District, RB, Sub-Series B, 6.35%, 1/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,027,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Village Community Development District No. 5 Florida, Special Assessment Bonds, Series A, 6.00%, 5/01/13&nbsp;(a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">995,309</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Watergrass Community Development District, Special Assessment Bonds, Series B, 5.13%, 11/01/14</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">955</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">756,503</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">34,128,222</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 2.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida State Board of Governors, Refunding RB, University of Central Florida, Series A, 5.00%, 7/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">587,580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Florida State Higher Educational Facilities Financial Authority, Refunding RB, University of Tampa Project, Series A, 5.00%,
4/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,154,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Educational Facilities Authority, RB, Rollins College Project (AMBAC), 5.25%, 12/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">725</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">853,136</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,594,916</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health &#151; 15.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Highlands County Health Facilities Authority, Refunding RB, Hospital, Adventist Health, Series I, 5.00%, 11/15/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,155</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,560,118</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hillsborough County IDA, RB, H. Lee Moffitt Cancer Center Project, Series A, 5.25%, 7/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,639,245</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Marion County Hospital District Florida, Refunding RB, Health System, Munroe Regional, 5.00%, 10/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,661,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Health Facilities Authority, Refunding RB, Mayflower Retirement Center:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.00%, 6/01/15</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">202,690</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.00%, 6/01/16</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">141,541</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.00%, 6/01/17</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">191,018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Florida (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Health Facilities Authority, Refunding RB, Mayflower Retirement Center (concluded):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.25%, 6/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;197,853</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 6/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">203,466</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Palm Beach County Health Facilities Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Acts Retirement-Life Communities, Inc., 5.00%, 11/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,735</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,323,845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Bethesda Healthcare System Project, Series A (AGM), 5.00%, 7/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,285</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,547,513</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,668,974</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 1.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida Housing Finance Corp., RB, Homeowner Mortgage, Series 2, AMT (Ginnie Mae), 4.70%, 7/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">857,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Jacksonville Housing Finance Authority, Refunding RB, Series A-1, AMT (Ginnie Mae), 5.63%, 10/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">288,725</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Manatee County Housing Finance Authority, RB, Series A, AMT (Fannie Mae), 5.90%, 9/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">345</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">375,588</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,521,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 22.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida Municipal Loan Council, RB, Series D (AGM):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,248,398</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,245,169</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/21</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">562,665</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida Municipal Loan Council, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">CAB, Series A (NPFGC), 3.33%, 4/01/20 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,156,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B-2 (AGM), 4.00%, 10/01/17</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">650,818</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B-2 (AGM), 4.00%, 10/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">688,024</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B-2 (AGM), 4.00%, 10/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">710,067</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B-2 (AGM), 4.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">655</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">734,406</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida State Board of Education, GO, Public Education, Series J (AMBAC), 5.00%, 6/01/13</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,307,870</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida State Board of Education, GO, Refunding, Capital Outlay, Series B, 5.00%, 6/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,243,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida State Department of Environmental Protection, Refunding RB, Series A, 5.00%, 7/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,640,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">20,187,997</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 18.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Broward County Florida Airport System Revenue, Refunding RB, Series P-1, AMT, 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,965,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Broward County Florida Port Facilities Revenue, Refunding RB, Series B, AMT, 5.00%, 9/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,956,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Lee Florida Transportation Facilities, Refunding RB, Series B (AMBAC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,412,787</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,210,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Miami-Dade Florida Aviation Revenue, Refunding RB, Series A, AMT, 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,630,819</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Miami-Dade Florida Transit System Sales Surtax Revenue, Refunding RB, 5.00%, 7/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">664,884</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Greater Orlando Aviation Authority, Refunding RB, Series C, 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,390,115</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Jacksonville Florida Port Authority, Refunding RB, AMT, 4.00%, 11/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">865</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">940,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,171,730</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 22.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Deltona Florida, RB (NPFGC), 5.00%, 10/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,126,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Marco Island Florida Utility System, RB (NPFGC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 10/01/13 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,033,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,059,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,412,469</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of North Miami Beach Water Revenue, RB, 5.00%, 8/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,434,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">County of Miami-Dade Florida Water &amp; Sewer System, Refunding RB, System, Series B (AGM), 5.25%, 10/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,903,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">22</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_03-51807-soi PAGE POSITION: 2 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Florida
Municipal 2020 Term Trust (BFO)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Florida (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida Governmental Utility Authority, RB, Golden Gate Utility System (AGM), 5.00%, 7/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;594,017</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Florida Governmental Utility Authority, Refunding RB, Lehigh Utility (AGM), 5.00%, 10/01/20</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">635</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750,456</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tohopekaliga Water Authority, RB, Series B (AGM):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,036,087</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,216,497</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tohopekaliga Water Authority, Refunding RB, Series A (AGM), 5.00%, 10/01/21</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,742,784</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">20,309,287</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in Florida</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">112,212,609</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Guam &#151; 0.4%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Guam Power Authority, Refunding RB, Series A (AGM), 5.00%, 10/01/20</DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">364,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico &#151; 1.8%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 1.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Commonwealth of Puerto Rico, GO, Public Improvement (AGM), 5.50%, 7/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,139,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico Sales Tax Financing Corp., Refunding RB, Sales Tax Revenue, Series C, 5.00%,
8/01/22</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">494,564</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in Puerto Rico</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,633,844</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 128.0%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,211,153</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (e)<BR></B></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B></FONT></TD>
     <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 0.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Lee County Housing Finance Authority, RB, Multi-County Program, Series A-2, AMT (Ginnie Mae), 6.00%,
9/01/40</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;$570,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151; 0.6%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">570,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $109,014,188) &#151; 128.6%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,782,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Short-Term Securities</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B>Shares</B></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B></B>&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">FFI Institutional Tax-Exempt Fund, 0.01% (f)(g)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $57,308) &#151; 0.1%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Total Investments (Cost &#151; $109,071,496) &#151; 128.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,839,381</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Other Assets Less Liabilities &#151; 1.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">879,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable &#151; (0.4)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(360,347</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>AMPS, at Redemption Value &#151; (29.3)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(26,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">89,258,599</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the
date indicated, typically at a premium to par.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Non-income producing security.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These
securities serve as collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred
to TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(f)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of
Section 2(a)(3) of the 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">BFI Florida Municipal Money Fund</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">781,042</DIV></FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">(781,042)</DIV></FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&#151;</DIV></FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$1,391</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px">FFI Institutional Tax-Exempt Fund</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&#151;</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">57,308</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">57,308</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$325</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(g)</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">For
Trust compliance purposes, the Trust&#146;s sector classifications refer to any one or more of the sector sub-classifications used by one or more
widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this
report, which may combine such sector sub-classifications for reporting ease.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fair
Value Measurements&#151;Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into
a disclosure hierarchy consisting of three broad levels for financial statement purposes as follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the
ability to access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets
that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are
not available (including the Trust&#146;s own assumptions used in determining the fair value of investments)</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair
value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value
hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety
is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">23<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_03-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Florida
Municipal 2020 Term Trust (BFO)<BR>&nbsp;<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In
accordance with the Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of
the beginning of the reporting period. The categorization of a value determined for investments based on the pricing transparency of the investment and
is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust&#146;s policy regarding
valuation of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The following table summarizes the Trust&#146;s investments categorized in the disclosure hierarchy as of January 31,
2013:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=20><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,782,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,782,07&nbsp;3</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,782,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">114,839,381</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>1</TD>
<TD>See above Schedule of Investments for values in each sector. </TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Certain of the Trust&#146;s assets and liabilities are held at carrying amount, which approximates fair value for financial statement
purposes. As of January 31, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Cash</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">103</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">103</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;103</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;(360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;(359,897</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">There were no transfers between levels during the six months ended January 31, 2013.</DIV></FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial
Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">24</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_03-51807-soi PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust (BBF)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Alabama &#151; 2.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Alabama Incentives Financing Authority, RB, Series A, 5.00%, 9/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;2,265,040</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Selma IDB, RB, International Paper Company Project, 5.38%, 12/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">303,969</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,569,009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Alaska &#151; 0.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Northern Tobacco Securitization Corp., Refunding RB, Asset Backed, Series A, 5.00%,
6/01/46</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">330</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">289,912</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Arizona &#151; 0.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Arizona Board of Regents, Refunding RB, Arizona State University System, Series A, 5.00%,
6/01/42</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">572,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>California &#151; 8.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Educational Facilities Authority, RB, University of Southern California, Series A, 5.25%, 10/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,315</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,550,569</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California Health Facilities Financing Authority, Refunding RB, Catholic Healthcare West, Series A, 6.00%,&nbsp;7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,051,597</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Grossmont Union High School District, GO, Election of 2008, Series B, 4.75%, 8/01/45</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,085,950</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Department of Water &amp; Power, RB, Power System, Sub-Series A-1, 5.25%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,011,468</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">San
Diego Regional Building Authority California, RB, County Operations Center &amp; Annex, Series A, 5.38%,&nbsp;2/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,810,064</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of California, GO, Various Purpose, 6.00%, 3/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,585,475</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">9,095,123</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Colorado &#151; 1.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City &amp; County of Denver Colorado, Refunding ARB, Series B, 5.00%, 11/15/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">517,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Colorado Health Facilities Authority, Refunding RB, Catholic Healthcare, Series A, 5.50%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,253,676</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,770,861</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Florida &#151; 1.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Jacksonville Florida, Refunding RB, Better Jacksonville, Series A, 5.00%, 10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">659,191</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Watergrass Community Development District, Special Assessment Bonds, Series B, 5.13%, 11/01/14</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">955</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">756,503</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,415,694</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Georgia &#151; 1.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Municipal Electric Authority of Georgia, Refunding RB, Project One, Sub-Series D, 6.00%,
1/01/23</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,913,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Illinois &#151; 15.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Chicago Illinois Board of Education, GO, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 12/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,169,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,410</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,546,474</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Chicago Park District, GO, Harbor Facilities, Series C, 5.25%, 1/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">75</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">85,563</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Chicago Transit Authority, RB, Sales Tax Receipts Revenue:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 12/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,246,518</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 12/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">357,777</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, GARB, O&#146;Hare International Airport, Third Lien, Series C, 6.50%, 1/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,955</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,821,258</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, Refunding RB, Sales Tax, Series A, 5.25%, 1/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">385</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">444,182</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Cook County Forest Preserve District, GO, Series C, 5.00%, 12/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">285</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">328,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Cook County Forest Preserve District, GO, Refunding, Limited Tax Project, Series B, 5.00%, 12/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">155,482</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Illinois Finance Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Carle Foundation, Series A, 6.00%, 8/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,200,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Rush University Medical Center Obligation Group, Series B, 7.25%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,035,392</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Illinois (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Illinois Finance Authority, Refunding RB, Northwestern Memorial Hospital, Series A, 6.00%, 8/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;2,232,424</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Pier &amp; Exposition Authority, Refunding RB, Mccormick Place Project, Series B, 5.00%, 12/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,182,033</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Railsplitter Tobacco Settlement Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 6/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">690</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">820,866</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 6/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">234,178</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,859,697</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Indiana &#151; 2.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Indiana Municipal Power Agency, RB, Series B, 6.00%, 1/01/39</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,647,691</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Kansas &#151; 3.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Kansas Development Finance Authority, Refunding RB, Adventist Health System, Sunbelt Obligated Group:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,877,216</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,766,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,643,791</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Kentucky &#151; 1.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Kentucky Economic Development Finance Authority, RB, Owensboro Medical Health System, Series A, 6.38%,&nbsp;6/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">786,456</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Louisville &amp; Jefferson County Metropolitan Government Parking Authority, RB, Series A, 5.75%, 12/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">616,310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,402,766</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Louisiana &#151; 0.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Louisiana Local Government Environmental Facilities &amp; Community Development Authority, RB, Westlake
Chemical Corp., Series A-1, 6.50%, 11/01/35</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">715</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">846,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Maine &#151; 1.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Maine Health &amp; Higher Educational Facilities Authority, RB, Maine General Medical Center, 7.50%,
7/01/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,631,112</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Massachusetts &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Massachusetts Health &amp; Educational Facilities Authority, RB, Tufts University, 5.38%,
8/15/38</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,178,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Michigan &#151; 3.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Lansing Board of Water &amp; Light Utilities System, RB, Series A, 5.50%, 7/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">915</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,084,009</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Michigan State Building Authority, Refunding RB, Facilities Program, Series I, 6.00%, 10/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,203,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Royal Oak Hospital Finance Authority Michigan, Refunding RB, William Beaumont Hospital, 8.25%, 9/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">995</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,272,267</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,559,956</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Mississippi &#151; 1.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Mississippi Development Bank, Refunding RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Jackson Mississippi Water &amp; Sewer System, 5.00%, 9/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,742,392</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">Jackson Public School District, 5.00%, 4/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">319,259</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,061,651</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Nevada &#151; 3.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Las Vegas Nevada, GO, Limited Tax, Performing Arts Center, 6.00%, 4/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,883,104</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Clark Nevada, ARB, Series B, 5.75%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,825</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,126,417</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,009,521</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Jersey &#151; 3.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey State Housing &amp; Mortgage Finance Agency, RB, S/F Housing, Series CC, 5.25%, 10/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,265,753</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Transportation Trust Fund Authority, RB, Transportation System, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.88%, 12/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,527,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 6/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,162,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,955,051</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">25<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust (BBF)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New York &#151; 6.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hudson New York Yards Infrastructure Corp., RB, Series A, 5.75%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;1,193,310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">718,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, ERB, Series B, 5.25%, 3/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,800,582</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, RB, Series B, 5.00%, 3/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,144,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,857,632</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>North Carolina &#151; 1.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">North Carolina Medical Care Commission, RB, Duke University Health System, Series A, 5.00%,
6/01/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,335</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,569,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Ohio &#151; 1.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Ohio State University, RB, Special Purpose General Receipts, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 6/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">525,087</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 6/01/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">780,516</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,305,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Pennsylvania &#151; 3.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania Economic Development Financing Authority, RB, American Water Co. Project, 6.20%, 4/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">584,535</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania Turnpike Commission, RB, Sub-Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.63%, 12/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,470,813</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 12/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,702,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,757,938</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Puerto Rico &#151; 2.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A, 5.75%, 8/01/37</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,815,692</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Texas &#151; 16.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Central Texas Regional Mobility Authority, Refunding RB, Senior Lien, 6.00%, 1/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,947,654</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Houston Texas, Refunding RB, Utility System, Series D, 5.00%, 11/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,155,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Conroe ISD Texas, GO, School Building, Series A, 5.75%, 2/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,060,978</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Harris County Health Facilities Development Corp., Refunding RB, Memorial Hermann Healthcare System, Series B, 7.13%, 12/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">638,415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Katy ISD Texas, GO, Refunding, Unlimited Tax School Building, Series A (PSF-GTD), 5.00%, 2/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">560</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">647,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Lower Colorado River Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/19 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/19 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/19 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">80</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">100,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,910</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,229,371</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">North Texas Tollway Authority, RB, Special Projects System, Series A, 5.50%, 9/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,190,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">North Texas Tollway Authority, Refunding RB, System, First Tier, Series K-1 (AGC), 5.75%, 1/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,130,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">North Texas Tollway Authority System, Refunding RB, First Tier, Series B, 5.00%, 1/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,192,858</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tarrant County Cultural Education Facilities Finance Corp., RB, Scott &amp; White Healthcare, 6.00%, 8/15/45</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,905</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,259,768</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Texas Private Activity Bond Surface Transportation Corp., RB, Senior Lien, NTE Mobility Partners LLC, North Tarrant Express Managed Lanes Project,
6.88%, 12/31/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,505</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,800,281</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Texas Transportation Commission, Refunding RB, First Tier, Series A, 5.00%, 8/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">330</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">364,211</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of Texas System, Refunding RB, Financing System Series B, 5.00%, 8/15/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,355</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,591,854</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">17,322,218</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utah &#151; 2.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Utah Transit Authority, Refunding RB, Sales Tax Revenue, Subordinate, 5.00%, 6/15/42</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;2,260,040</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Virginia &#151; 6.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Fairfax County IDA, RB, Inova Health System Project, Series A, 5.00%, 5/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">591,094</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Norfolk EDA, Refunding RB, Sentara Healthcare, Series B, 5.00%, 11/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,205</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,667,417</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Virginia Public School Authority, RB, School Financing, 6.50%, 12/01/18 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,319,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Virginia Resources Authority, RB, Infrastructure, 5.00%, 11/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,076,941</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,654,712</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Wisconsin &#151; 2.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Wisconsin Health &amp; Educational Facilities Authority, RB, Ascension Health, Series D, 5.00%, 11/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,041,818</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Wisconsin Health &amp; Educational Facilities Authority, Refunding RB, Froedtert &amp; Community Health, Inc.:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.00%, 4/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">264,098</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series C, 5.25%, 4/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,861,746</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,167,662</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 97.3%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">105,134,887</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Municipal Bonds Transferred to<BR> Tender Option Bond Trusts (b)</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>California &#151; 19.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Educational Facilities Authority, RB, University of Southern California, Series B, 5.25%, 10/01/39 (c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,995</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,336,005</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Grossmont Union High School District, GO, Election of 2008, Series B, 5.00%, 8/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,691,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Community College District California, GO, Election of 2008, Series C, 5.25%, 8/01/39 (c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,191,005</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Los
Angeles Community College District California, GO, Refunding, Election of 2008, Series A, 6.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,879,082</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles Unified School District California, GO, Series I, 5.00%, 1/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">450,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Diego Public Facilities Financing Authority, Refunding RB, Series B, 5.50%, 8/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,214</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,934,586</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, RB, Series O, 5.75%, 5/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,817,045</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of California, Refunding RB, Series G, 5.00%, 5/15/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,159,336</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">21,458,399</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>District of Columbia &#151; 3.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">District of Columbia, RB, Series A, 5.50%, 12/01/30 (c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,703,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">District of Columbia Water &amp; Sewer Authority, Refunding RB, Series A, 5.50%, 10/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,799</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,091,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,794,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Florida &#151; 0.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">County of Miami-Dade Florida, RB, Transit System, Sales Surtax, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">551,446</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Illinois &#151; 4.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, Refunding RB, Second Lien Water Project, 5.00%, 11/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">859,116</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Illinois Finance Authority, RB, University of Chicago, Series B, 6.25%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,463,096</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,322,212</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Massachusetts &#151; 1.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Massachusetts School Building Authority, RB, Dedicated Sales Tax, Senior Series B, 5.00%,
10/15/41</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,718,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">26</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_04-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust (BBF)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (b)<BR></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Nevada &#151; 5.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Clark County Water Reclamation District, GO:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Limited Tax, 6.00%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;3,020,875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.50%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,994</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,436,382</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">5,457,257</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Hampshire &#151; 1.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New Hampshire Health &amp; Education Facilities Authority, RB, Dartmouth College, 5.25%, 6/01/39
(c)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,094</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,288,129</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Jersey &#151; 3.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Transportation Trust Fund Authority, RB, Transportation System:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A (AGM), 5.00%, 12/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,269,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.25%, 6/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,879,965</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,149,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New York &#151; 13.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, RB, Fiscal 2009, Series A, 5.75%, 6/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,410</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,681,156</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series FF, 5.00%, 6/15/45</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,708,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series FF-2, 5.50%, 6/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,994</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,354,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Transitional Finance Authority, BARB, Fiscal 2009, Series S-3, 5.25%, 1/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,683,307</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Transitional Finance Authority, RB, Second Sub-Series E-1, 5.00%, 2/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">860</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">988,001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%,&nbsp;12/15/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,205</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,536,906</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Liberty Development Corp., Refunding RB, 4 World Trade Center Project, 5.75%, 11/15/51</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,542,294</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, ERB, Series B, 5.25%, 3/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,338,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">14,833,397</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Ohio &#151; 1.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">County of Allen Ohio, Refunding RB, Catholic Healthcare, Series A, 5.25%, 6/01/38</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,560</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,751,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (b)<BR></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Puerto Rico &#151; 0.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico Sales Tax Financing Corp., Refunding RB, Sales Tax, Senior Series C, 5.25%,
8/01/40</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;957,299</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Texas &#151; 6.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of San Antonio Texas, Refunding RB, Electric &amp; Gas Systems, Series A, 5.25%, 2/01/31 (c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,411,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Harris County Cultural Education Facilities Finance Corp., RB, Hospital, Texas Children&#146;s Hospital Project, 5.50%,&nbsp;10/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,242,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Waco Educational Finance Corp., Refunding RB, Baylor University, 5.00%, 3/01/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,005</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,150,856</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,804,581</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Virginia &#151; 1.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fairfax County IDA Virginia, Refunding RB, Health Care, Inova Health System, Series A, 5.50%,
5/15/35</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">899</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,036,257</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Washington &#151; 1.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">University of Washington, Refunding RB, Series A, 5.00%, 7/01/41</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,380</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,605,832</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151; 64.5%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">69,728,359</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $154,686,037) &#151; 161.8%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">174,863,246</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Short-Term Securities</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B>Shares</B></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B></B>&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">FFI Institutional Tax-Exempt Fund, 0.01% (d)(e)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $975,638) &#151; 0.9%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Total Investments (Cost &#151; $155,661,675) &#151; 162.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">175,838,884</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Other Assets Less Liabilities &#151; 1.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,631,509</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable &#151; (32.6)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(35,212,612</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>VRDP Shares, at Liquidation Value &#151; (31.6)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(34,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">108,057,781</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the
date indicated, typically at a premium to par.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These
securities serve as collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred
to TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the
event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the
case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements is
$5,653,992</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of
Section 2(a)(3) of the 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px">FFI Institutional Tax-Exempt Fund</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">1,631,769</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">(656,131)</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">975,638</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$119</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fair
Value Measurements&#151;Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into
a disclosure hierarchy consisting of three broad levels for financial statement purposes as follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the
ability to access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets
that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are
not available (including the Trust&#146;s own assumptions used in determining the fair value of investments)</DIV></FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">27<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_04-51807-soi PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_04-51807-soi PAGE POSITION: 4 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Income Investment Trust (BBF)<BR>&nbsp;<BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 2%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair
value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value
hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety
is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 2%; padding-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD STYLE="padding-bottom: 6pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In
accordance with the Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of
the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment
and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust&#146;s policy
regarding valuation of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial
Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 2%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The following table summarizes the Trust&#146;s investments categorized in the disclosure hierarchy as of January 31,
2013:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">174,863,246</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">174,863,246</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">174,863,246</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">175,838,884</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>1</TD>
<TD>See above Schedule of Investments for values in each state or political subdivision. </TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Certain of the Trust&#146;s liabilities are held at carrying amount, which approximates fair value for financial statement purposes.
As of January 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(35,195,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(35,195,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">VRDP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(34,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(34,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;(69,395,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;(69,395,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">There were no transfers between levels during the six months ended January 31, 2013.</DIV></FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">28</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_04-51807-soi PAGE POSITION: 4 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Alabama &#151; 0.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Phenix City Industrial Development Board, Refunding RB, Meadwestvaco Coated Board Project, Series A, 3.63%, 5/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;5,744,934</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Prattville IDB Alabama, RB, International Paper Co. Project, Series A, AMT, 4.75%, 12/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,503,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">8,248,059</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Alaska &#151; 0.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Northern Tobacco Securitization Corp., Refunding RB, Tobacco Settlement, Asset-Backed, Series A, 4.63%,
6/01/23</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10,311,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Arizona &#151; 3.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Arizona Department of Transportation State Highway Fund Revenue, Refunding RB, Sub-Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,874,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">33,064,138</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Arizona Health Facilities Authority, Refunding RB, Phoenix Children&#146;s Hospital, Series A, 5.00%, 2/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,340</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,895,194</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">50,834,132</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>California &#151; 14.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">ABAG Finance Authority for Nonprofit Corps., Refunding RB, Odd Fellows Home California, Series A, 5.00%,&nbsp;4/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,089,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Alameda Corridor Transportation Authority, Refunding RB, CAB, Sub Lien, Series A (AMBAC), 4.93%, 10/01/30&nbsp;(a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,454,085</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Health Facilities Financing Authority, Refunding RB, Adventist Health System/West, Series A (b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 3/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,479,614</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 3/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,811,262</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 3/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">50,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">51,082,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California HFA, RB, S/F Mortgage, Series I, AMT, 4.70%, 8/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,037,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California Pollution Control Financing Authority, RB, Poseidon Resources Desalination Project, AMT, 5.00%,&nbsp;7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,112,703</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California State Public Works Board, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,090</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,827,337</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,114,087</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,620</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,989,551</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,905</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,304,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,884,342</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 9/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,007,079</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,564,486</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,355</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,691,341</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,475</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,824,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,957,578</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,590,148</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 5.00%, 9/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,870</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,257,881</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">California Statewide Communities Development Authority, RB, American Baptist Homes of the West, Series&nbsp;A&nbsp;(b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">578,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">718,114</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,084,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">California Statewide Communities Development Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Episcopal Communities &amp; Services, 5.00%, 5/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">562,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Episcopal Communities &amp; Services, 5.00%, 5/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,109,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Eskaton Properties, Inc., 5.25%, 11/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,673,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Corona-Norco Unified School District, Special Tax Bonds, Senior Lien, Series A, 5.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,378,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>California (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">El
Camino Community College District, GO, CAB, Election of 2002, Series C (a):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.83%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;9,090</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;4,679,805</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.92%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,465</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,078,433</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.99%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,435</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,069,441</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Grossmont Union High School District, GO, CAB, Election of 2004, 4.55%, 8/01/32 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">29,015</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,067,338</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Los
Angeles County Public Works Financing Authority, Refunding RB, Multiple Capital Projects II:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,857,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,407,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,397,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,831,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Los
Angeles Regional Airports Improvement Corp., Refunding RB, LAXFUEL Corp., Los Angeles International, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 1/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,423,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 1/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,110</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,548,742</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Poway Unified School District, GO, Election of 2008, Series A (a):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.91%, 8/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,703,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.20%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,831,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.49%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,258,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Poway Unified School District Public Financing Authority, Special Tax Bonds, Refunding (b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">935</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,058,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,205</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,344,876</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,103,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Riverside Public Financing Authority, Tax Allocation Bonds, University Corridor/Sycamore Canyon Merged Redevelopment Project, Series C (NPFGC),
4.50%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,117,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">San
Francisco City &amp; County Redevelopment Agency, Special Tax Bonds, Refunding, No. 6 Mission Bay South Public Improvements, Series
A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,071,860</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,389,193</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,335</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,413,658</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Westlands California Water District, Refunding RB, Series A (AGM):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,166,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,162,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,155,560</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 30px; TEXT-INDENT: -10px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">248,323,368</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Colorado &#151; 8.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Colorado Health Facilities Authority, Refunding RB, Covenant Retirement Communities, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 12/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,595</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,640,536</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,206,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Commerce City, Colorado-Northern Infrastructure General Improvement District, GO, Refunding, Improvement (AGM) (b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,277,741</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,560</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,828,273</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,252,018</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">577,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">912,656</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Denver West Metropolitan District, GO, Refunding, Series A (AGM), 4.00%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,586,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Plaza Metropolitan District No 1, Tax Allocation Bonds, Refunding: </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 12/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,007,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.10%, 12/01/24</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,096,104</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.20%, 12/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,309,357</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 12/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,305</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,345,682</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">29<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 1 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 2 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Colorado (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Regional Transportation District, RB, Fastracks Project, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;35,049,709</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">47,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">56,478,702</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,595</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,495,482</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">University of Colorado Hospital Authority, RB, Series A, 5.00%, 11/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,677,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 30px; TEXT-INDENT: -10px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">139,741,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Connecticut &#151; 0.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Connecticut Housing Finance Authority, Refunding RB, Housing Mortgage Finance Program, Sub-Series F-1,
3.00%,&nbsp;11/15/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,330,909</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Florida &#151; 10.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Jacksonville, Refunding RB, Series C:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,423,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,779,880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,598,298</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,965</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,533,344</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,357,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,465,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of North Miami Beach, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,594,657</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,233,197</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,640,809</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,873,934</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,445</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,080,324</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Tampa Florida, Refunding RB, H Lee Moffitt Cancer Center Project, Series A, 4.00%, 9/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,175,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hillsborough County IDA, RB, National Gypsum Co., Series A, AMT, 7.13%, 4/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,307,373</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Jacksonville Florida Port Authority, Refunding RB, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,926,465</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,895</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,029,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 11/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,349,024</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,391,977</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 11/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,152,966</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Miami-Dade County, Refunding RB, Sub-Series B, 5.00%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,308,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Miami-Dade County Educational Facilities Authority, RB, University Of Miami, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,161,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,905,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,695</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,948,402</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 4/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,930</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,077,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 4/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,047,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Palm Beach County Solid Waste Authority, Refunding RB, 5.00%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,749,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">State County Johns FL Water &amp; Sewer Revenue, Refunding RB, CAB, Series B&nbsp;(a)(b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.39%, 6/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,155</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,435,058</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.46%, 6/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,655</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,683,084</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.53%, 6/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,878,541</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.67%, 6/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,167,666</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.78%, 6/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,063,911</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.87%, 6/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,028,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.96%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">630,121</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 6/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">602,188</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tampa-Hillsborough County Expressway Authority, Refunding RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,936,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,918,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,292,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,665,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,665,672</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,619,102</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Florida (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Village Community Development District No 1, Special Assessment Bonds, Sumpter County:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 5/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;3,875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;3,843,380</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,926,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Village Community Development District No 5, Special Assessment Bonds, Phase I (b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 5/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,165</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,137,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 5/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,106,544</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 5/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,254,112</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 5/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,648,686</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Village Community Development District No 6, Special Assessment Bonds, 4.00%, 5/01/29 (b)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,595</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,707,049</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">181,322,252</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Guam &#151; 0.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Guam Power Authority, Refunding RB, Series A (AGM), 5.00%, 10/01/30</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,273,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Hawaii &#151; 2.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of Hawaii, GO, Series EE:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,367,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,566,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,307,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,285</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">15,159,663</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">38,401,863</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Idaho &#151; 0.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Idaho Housing and Finance Association, RB, Series A, 4.00%, 7/15/30</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10,606,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Illinois &#151; 6.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, GO, Project, Series A, 5.00%, 1/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,164,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, GO, CAB (NPFGC), 4.06%, 1/01/27 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,857,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">City of Chicago Illinois, Refunding RB, O&#146;Hare International Airport Passenger Facility Charge, Series&nbsp;B,&nbsp;AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,151,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,971,613</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Cook County, GO, Refunding, Series C:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,171,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25,083,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,472,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Illinois Finance Authority, Refunding RB, Lutheran Home &amp; Services Obligated Group:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/15/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,835</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,084,051</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,622,614</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 5/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,563,438</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">111,142,451</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Indiana &#151; 3.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Carmel Redevelopment Authority, Refunding RB, Multipurpose, Series A,</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,345</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,032,512</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,060,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Indiana Finance Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Community Health Network Project, Series A, 4.00%, 5/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23,960,892</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Earlham College Project, 5.00%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,255</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,941,336</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">55,995,145</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Louisiana &#151; 2.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Louisiana Stadium &amp; Exposition District, Refunding RB, Senior, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,881,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,414,406</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,141,211</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,469,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,753,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">30</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 2 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Louisiana (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Louisiana Stadium &amp; Exposition District, Refunding RB, Senior, Series A (concluded):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;5,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;5,874,324</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,440,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">33,974,961</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Maine &#151; 1.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Maine Health &amp; Higher Educational Facilities Authority, RB, Eastern Maine Medical Center Obligation:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,420,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,127,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,121,610</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.75%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">989,580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,525,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Maine State Housing Authority, Refunding RB, Series B, AMT, 3.45%, 11/15/32 (b)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,059,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">22,244,228</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Massachusetts &#151; 3.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Massachusetts HFA, Refunding RB, S/F Housing, Series 160, AMT, 4.00%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,013,190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Massachusetts School Building Authority, Refunding RB, Series B, 5.00%, 8/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">44,705</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">54,476,619</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">55,489,809</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Michigan &#151; 0.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Michigan State Hospital Finance Authority, Refunding RB, Trinity Health Credit Group, Series 2008-C, 4.00%,&nbsp;12/01/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">9,506,159</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Minnesota &#151; 1.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of Minnesota, Refunding RB, General Fund Appropriation, Series B:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 3/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,289,574</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.00%, 3/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">9,828,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">17,118,374</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Nebraska &#151; 1.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Central Plains Energy Project, RB, Project No. 3:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,903,284</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,222,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">24,125,304</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Hampshire &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Hampshire Health &amp; Education Facilities Authority, Refunding RB, Concord Hospital, Series A (b):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,245,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 10/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,361,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,593,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,200,458</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Jersey &#151; 15.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Economic Development Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.25%, 6/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,455,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, 5.00%, 3/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">74,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">86,232,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB, Continental Airlines, Inc. Project, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 9/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,463,226</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.20%, 11/15/30 (c)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,137,875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 6/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,610</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,094,763</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Cigarette Tax, 5.00%, 6/15/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,191,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Continental Airlines, Inc. Project, AMT, 5.75%, 9/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,384,202</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
Jersey Health Care Facilities Financing Authority, Refunding RB, Barnabas Health, Series A, 4.00%,&nbsp;7/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,182,460</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Jersey (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Transportation Trust Fund Authority, RB, CAB, Transportation Systems:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.07%, 12/15/28 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">36,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;18,991,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.13%, 12/15/29 (a)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,030,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series AA, 4.00%, 6/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,585,258</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series AA, 4.00%, 6/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22,315</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23,862,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Newark Housing Authority, Refunding RB, Newark Redevelopment Project (NPFGC), 5.25%, 1/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,902,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tobacco Settlement Financing Corp. New Jersey, Refunding RB, Series 1-A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 6/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,895</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,870,164</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.63%, 6/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22,460</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">21,794,959</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">268,180,426</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New York &#151; 7.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing Development Corp., RB, Series K-1:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.40%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,005,924</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,865</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,806,936</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Housing Development Corp., Refunding RB, Series L-1:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.40%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,567,455</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,148,516</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Transportation Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.00%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,347,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 5.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">38,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">44,403,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State HFA, RB, Affordable Housing (SONYMA):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 3.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,225</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,091,083</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 3.05%, 11/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,015,136</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 3.45%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,284,471</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Niagara Area Development Corp., Refunding RB, Covanta Energy Project, Series B, 4.00%, 11/01/24</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,078,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Onondaga Civic Development Corp., RB, Saint Joseph&#146;s Hospital Health Center Project, 4.50%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,215</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,085,529</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Triborough Bridge &amp; Tunnel Authority, Refunding RB, CAB, Series A (a):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.47%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,810</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,996,041</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.55%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25,215</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,485,991</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.67%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,524,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">126,840,401</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>North Carolina &#151; 2.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Charlotte North Carolina, Refunding RB, Charlotte-Douglas International Airport, Special Facilities Revenue, US Airway, Inc. Project, AMT,
5.60%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,853,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">North Carolina Capital Facilities Finance Agency, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Duke Energy Carolinas, 4.38%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,449,376</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Solid Waste Disposal, Duke Energy Carolinas Project, Series B, 4.38%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,764,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">North Carolina Medical Care Commission, RB, Mission Health Combined Group, 4.63%, 10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,166,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">35,234,556</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>North Dakota &#151; 0.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">North Dakota HFA, RB, Series A, 3.60%, 7/01/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,945</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,984,934</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Ohio &#151; 2.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Ohio State University, RB, General Receipts Special Purpose, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 6/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,367,880</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 6/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,487,598</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,356,747</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 6/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,285</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,060,078</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">41,272,303</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">31<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 4 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Oklahoma &#151; 0.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Oklahoma County Finance Authority, Refunding RB, Epworth Villa Project, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/23</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;1,119,762</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,543,245</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,066,139</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,729,146</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Oregon &#151; 2.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Oregon Health &amp; Science University, Refunding RB, Series E:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,835,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,198,189</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,305</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,254,981</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,612,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">37,901,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Pennsylvania &#151; 10.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Allentown Neighborhood Improvement Zone Development Authority, Refunding RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,509,982</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,538,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,745</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,132,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,843,992</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Commonwealth Financing Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A-2, 5.00%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,505</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,698,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 6/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,550,259</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,730</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,959,611</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 6/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,115</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,377,288</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Cumberland County Municipal Authority, Refunding RB, Asbury Pennsylvania Obligation Group:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 1/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">793,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 1/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,335,958</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 1/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,074,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Lehigh County, Refunding RB, Lehigh Valley Health Network, 4.00%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27,535</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,518,826</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Montgomery County Higher Education &amp; Health Authority, Refunding RB, Abington Memorial Hospital Obligation Group, 5.00%,
6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,660,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Montgomery County Industrial Development Authority, Refunding RB, Acts Retirement-Life Communities, Inc. Obligated Group, 5.00%,
11/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,810,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania Economic Development Financing Authority, RB, AMT, National Gypsum Co.:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 6.25%, 11/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,519,348</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 6.13%, 11/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,975,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Pennsylvania Higher Educational Facilities Authority, RB, Shippensburg University Student Services, 5.00%,&nbsp;10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,319,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania Higher Educational Facilities Authority, Refunding RB, La Salle University, 4.00%, 5/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,009,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania Housing Finance Agency, RB, Series 114, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.05%, 10/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">998,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.30%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,178,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State Public School Building Authority, RB, School District of Philadelphia Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,714,643</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,054,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,755,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 4/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,169,405</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">State Public School Building Authority, Refunding RB, School District of Philadelphia Project, Series B (AGM), 5.00%,&nbsp;6/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,345</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,447,909</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">176,945,359</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>South Carolina &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">South Carolina Jobs-EDA, Refunding RB, Bon Secours Health System, Inc., 5.00%, 11/01/29</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;6,762,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Texas &#151; 9.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Austin,Texas, Refunding RB, Electric Utility System Revenue, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,125,595</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,170,317</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,043,156</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,645</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,429,536</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,851,011</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Clifton Higher Education Finance Corp., Refunding RB, Uplift Education, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.10%, 12/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,044,687</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.95%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,801,386</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Love Field Airport Modernization Corp., RB, Southwest Airlines Co. Project, AMT, 5.00%, 11/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,263,475</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Lower Colorado River Authority, Refunding RB, Series B, 5.00%, 5/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,563,442</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Matagorda County Navigation District No 1 Texas, Refunding RB (AMBAC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.40%, 5/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">30,730</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">32,382,967</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, AMT, 4.55%, 5/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,366,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Midland County Fresh Water Supply District No 1, RB, City of Midland Project, Series A, 5.00%, 9/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,435</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,895,361</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Midland County Fresh Water Supply District No 1, RB, CAB, City of Midland Project, Series A (a):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.96%, 9/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,005,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.18%, 9/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,724,934</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Red
River Health Facilities Development Corp., RB, Wichita Falls Retirement Foundation Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.70%, 1/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,017,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 1/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,036,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Texas Municipal Gas Acquisition &amp; Supply Corp. III, RB, Natural Gas Utility Improvements:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,562,580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,192,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,908,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">160,385,048</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>US Virgin Islands &#151; 0.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Virgin Islands Public Finance Authority, Refunding RB, Gross Receipts Taxes Loan Note, Series&nbsp;A, 5.00%,&nbsp;10/01/32</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10,979,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Vermont &#151; 0.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Vermont EDA, Refunding MRB, Wake Robin Corp. Project, 5.40%, 5/01/33</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,534,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Virginia &#151; 4.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Dullles Town Center Community Development Authority, Special Assessment Bonds, Dulles Town Center Project, 4.25%, 3/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">495,035</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Fairfax County EDA, RB, Vinson Hall Llc, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 12/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">505</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">505,384</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,767,069</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,046,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Fairfax County IDA, Refunding RB, Inova Health System, Series D:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,622,605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,359,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 5/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,150,554</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hanover County EDA, Refunding RB, Covenant Woods, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,939,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,063,975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Henrico County EDA, Refunding RB, Bon Secours Health System, 5.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,812,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">32</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 4 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 5 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Virginia (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Norfolk EDA, Refunding RB, Bon Secours Health System, Inc.:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,690,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,648,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Virginia Housing Development Authority, RB, Sub-Series C-2, 3.00%, 4/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">23,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">22,980,992</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Virginia Small Business Financing Authority, RB, Senior Lien, Express Lanes LLC, AMT, 5.00%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,097,915</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">81,179,969</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Washington &#151; 0.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Greater Wenatchee Regional Events Center Public Facilities District, Refunding RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.50%, 9/01/18</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,050,615</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">3.75%, 9/01/19</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,090,528</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.13%, 9/01/21</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,145</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,179,625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 9/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,046,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 9/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,062,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,059,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Port of Seattle Industrial Development Corp., Refunding RB, Special Facilities, Delta Airline, Inc. Project, AMT, 5.00%,&nbsp;4/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">5,040,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,529,988</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Wisconsin &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Public Finance Authority, Refunding RB, Airport Facilities, Senior Series B, AMT, 5.25%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,452,208</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Wisconsin Health &amp; Educational Facilities Authority, Refunding RB, Marquette University, 4.00%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,756,938</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">7,209,146</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 120.2%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,021,859,486</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Municipal Bonds Transferred to<BR> Tender Option Bond Trusts (d)</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>California &#151; 7.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Anaheim California Public Financing Authority, Refunding RB, Electric Distribution System, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,984,134</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,425</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,655,975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,360,064</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port of Oakland California, Refunding RB, Senior Lien, Series P, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,269,507</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 5/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">32,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">35,037,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 5/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,608,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 5/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,355</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">23,222,188</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">130,137,418</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Colorado &#151; 7.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City &amp; County of Denver Colorado, Refunding ARB, Department of Aviation, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.25%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">35,210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">37,612,819</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">37,875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">39,849,021</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.25%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,085</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,636,741</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.25%, 11/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,382,181</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">AMT, 4.25%, 11/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">33,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">36,127,961</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">124,608,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Florida &#151; 5.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Broward Florida, ARB, Series Q-1:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,957,436</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,891,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,648,776</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,437,024</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 10/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,355</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">21,251,373</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">98,186,459</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (d)<BR></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Illinois &#151; 2.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Chicago Illinois, RB, Second Lien, Wastewater Transmission Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;10,809,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,241,966</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,689,978</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 1/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">9,517,642</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">43,259,169</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Iowa &#151; 2.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Iowa State Board of Regents, RB, University of Iowa Hospitals and Clinics, Series SUI:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,556,457</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,875,816</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,665,064</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,115,067</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,166,679</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,375</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">9,879,047</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">44,258,130</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New Hampshire &#151; 1.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Hampshire State Turnpike System, RB, Series C:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,665</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,838,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,398,473</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,556,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,035</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,226,129</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,745</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,969,761</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">19,989,016</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Texas &#151; 10.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">City of San Antonio Texas Public Facilities Corp., Refunding LRB, Convention Center Refinancing and Expansion Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,720,261</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,475</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,410,139</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">18,942,915</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,528,192</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,455,687</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 9/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,716,078</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">County of Harris Texas, Refunding RB, Senior Lien Toll Road, Series C, 4.00%, 8/15/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,129,926</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Dallas/Fort Worth Texas International Airport, Refunding RB, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 4.00%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,915</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,519,573</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series E, 4.13%, 11/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,435</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,347,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 5.00%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,940,844</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 5.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,565</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">16,925,837</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 5.00%, 11/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,874,293</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series F, 5.00%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">17,170</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">18,671,161</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">176,182,231</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Washington &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of Washington, COP, State and Local Agency Real and Personal Property:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,383,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,581,406</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,773,633</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,901,784</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">18,640,663</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151; 39.0%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">655,261,809</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $2,663,399,515) &#151; 159.2%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,677,121,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">33<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 5 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 6 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Short-Term Securities<BR></B></B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Michigan &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Michigan State HDA, Refunding RB, VRDN, AMT (JPMorgan Chase Bank LOC), Series A, 0.15%, 2/01/13&nbsp;(e)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;6,900,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>New York &#151; 2.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New York City Municipal Water Finance Authority, Refunding RB, VRDN (Mizuho Corporate Bank LOC), 0.11%,
2/01/13&nbsp;(e )</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">34,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">34,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Pennsylvania &#151; 3.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pennsylvania HFA, RB, VRDN, S/F Housing, AMT (JPMorgan Chase Bank LOC) (e):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 98C, 0.14%, 2/01/13</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,955</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">28,955,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 100C, 0.14%, 2/01/13</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,825</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,825,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Pennsylvania HFA, Refunding RB, VRDN, S/F Housing, Series 99C, AMT (JPMorgan Chase Bank LOC), 0.14%, 2/01/13&nbsp;(e)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">15,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">65,780,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Short-Term Securities<BR></B></B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Texas &#151; 0.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">State of Texas, RB, VRDN, Tax and Revenue Anticipation Notes (JPMorgan Chase Bank Liquidity Facility),
0.12%, 2/01/13&nbsp;(e)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;9,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;9,700,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><B>Shares</B></FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Money Market Fund &#151; 0.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">FFI Institutional Tax-Exempt Fund, 0.01% (f)(g)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $116,461,831) &#151; 6.9%</B></DIV></FONT></TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD  STYLE='border-bottom: Black 2px solid'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">116,461,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Total Investments (Cost&#151;$2,779,861,346) &#151; 166.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,793,583,126</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Liabilities in Excess of Other Assets &#151; (8.9)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(148,596,965</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable &#151; (27.5)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(462,672,238</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>RVMTP Shares, at Liquidation Value &#151; (29.7)%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(500,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,682,313,923</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">When-issued security. Unsettled when-issued transactions were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Counterparty<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Unrealized<BR> Appreciation<BR>
(Depreciation)</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Wells Fargo &amp; Co. </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">64,373,376</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(821,297</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pershing LLC </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,380,724</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(8,435</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">D.A. Davidson &amp; Co. </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,847,908</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">102,671</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Bank of America Corp. </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,059,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">59,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Royal Bank of Canada </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,200,458</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(24,783</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Stifel, Nicolaus &amp; Co. </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,506,491</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(15,243</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Royal Bank of Canada </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">11,488,689</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(6,601</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Citigroup, Inc. </DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">16,853,571</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">101,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Variable rate security. Rate shown is as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These
securities serve as collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred
to TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Variable rate security. Rate shown is as of report date and maturity shown is the date the principal owed can be recovered through
demand.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(f)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of
Section 2(a)(3) of 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">FFI Institutional Tax-Exempt Fund</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&#151;</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">81,831</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">81,831</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">946</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(g)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">For
Trust compliance purposes, the Trust&#146;s industry classifications refer to any one or more of the industry sub-classifications used by one or more
widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this
report, which may combine such industry sub-classifications for reporting ease.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fair
Value Measurements&#151;Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized into
a disclosure hierarchy consisting of three broad levels for financial statement purposes as follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the
ability to access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets
that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are
not available (including the Trust&#146;s own assumptions used in determining the fair value of investments)</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair
value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value
hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety
is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">34</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_05-51807-soi PAGE POSITION: 6 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_05-51807-soi PAGE POSITION: 7 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>&nbsp;<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In
accordance with the Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of
the beginning of the reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment
and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust&#146;s policy
regarding valuation of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial
Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The following table summarizes the Trust&#146;s investments categorized in the disclosure hierarchy as of January 31,
2013:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,677,121,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,677,121,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">116,380,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">116,461,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,793,501,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,793,583,126</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>1</TD>
<TD>See above Schedule of Investments for values in each state or political subdivision.</TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Certain of the Trust&#146;s liabilities are held at carrying amount or face value, which approximates fair value for financial
statement purposes. As of January 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;(462,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;(462,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">RVMTP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(500,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(500,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(962,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;(962,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">There were no transfers between levels during the six months ended January 31, 2013.</DIV></FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">35<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TD width="63%"></TD>
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<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New Jersey
Municipal Income Trust (BNJ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
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     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New Jersey &#151; 123.3%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Corporate &#151; 9.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Middlesex County Improvement Authority, RB, Subordinate, Heldrich Center Hotel, Series B, 6.25%, 1/01/37&nbsp;(a)(b)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;133,247</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB, Continental Airlines Inc. Project, AMT (c):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,462,903</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.20%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,007,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Refunding RB, New Jersey American Water Co., Inc. Project, AMT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.70%, 10/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,680,615</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.60%, 11/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,452,952</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Salem County Pollution Control Financing Authority, Refunding RB, Atlantic City Electric, Series A, 4.88%,&nbsp;6/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,664,888</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,402,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>County/City/Special District/School District &#151; 15.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Bergen County New Jersey Improvement Authority, Refunding RB, Fair Lawn Community Center, Inc. Project, 5.00%,&nbsp;9/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">937,808</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Margate City New Jersey, GO, Refunding, Improvement, 5.00%, 1/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,085</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,253,327</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Perth Amboy New Jersey, GO, Refunding, CAB (AGM):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,160,054</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">188,024</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Essex County Improvement Authority, Refunding RB, Project Consolidation (NPFGC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 10/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,908,648</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.50%, 10/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,499,609</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hudson County Improvement Authority, RB, Harrison Parking Facility Project, Series C (AGC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 1/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,233,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.38%, 1/01/44</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,680,656</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Newark Housing Authority, Refunding RB, Newark Redevelopment Project (NPFGC), 4.38%, 1/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,614,326</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">South Jersey Transportation Authority, Refunding RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">305</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">353,147</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">305</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">352,315</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Union County Improvement Authority, RB, Guaranteed Lease, Family Court Building Project, 5.00%, 5/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,515</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,727,873</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">18,908,847</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 14.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">MSU Student Housing Project Provide, 5.88%, 6/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,681,695</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, Series CC-2, 5.00%, 12/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,525</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,744,844</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Educational Facilities Authority, RB, Montclair State University, Series J, 5.25%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">654,959</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Educational Facilities Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">College of New Jersey, Series D (AGM), 5.00%, 7/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,230</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,567,923</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Georgian Court University, Series D, 5.00%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">264,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Kean University, Series A, 5.50%, 9/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,366,858</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New Jersey Institute of Technology, Series H, 5.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">745,298</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Ramapo College, Series B, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">265</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">300,743</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">University of Medicine &amp; Dentistry, Series B, 7.50%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,817,082</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New Jersey (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Higher Education Student Assistance Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 1, AMT, 5.75%, 12/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;2,055</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;2,321,903</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 1A, 5.00%, 12/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">585,443</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 1A, 5.00%, 12/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">345</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">379,738</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 1A, 5.25%, 12/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">554,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Institute of Technology, RB, GO, Series A, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">970</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,110,117</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">18,096,068</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health &#151; 17.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">First Mortgage, Lions Gate Project, Series A, 5.75%, 1/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">506,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">First Mortgage, Lions Gate Project, Series A, 5.88%, 1/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">855</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">861,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Masonic Charity Foundation Project, 5.50%, 6/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">880,758</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">First Mortgage, Winchester, Series A, 5.75%, 11/01/24</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,153,032</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Seabrook Village, Inc. Facility, 5.25%, 11/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,867,829</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Health Care Facilities Financing Authority, RB (AGC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Meridian Health, Series I, 5.00%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">794,693</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Virtua Health, 5.50%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,394,813</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Health Care Facilities Financing Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">AHS Hospital Corp., 6.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,118,412</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">AHS Hospital Corp., 6.00%, 7/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,045</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,288,882</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Barnabas Health, Series A, 5.00%, 7/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">162,071</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Barnabas Health, Series A, 5.63%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">580</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">657,407</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Barnabas Health, Series A, 5.63%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,813,024</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Kennedy Health System, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">550,855</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Meridian Health System Obligated Group Issue, 5.00%, 7/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">970</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,110,543</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Robert Wood Johnson, 5.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">550,870</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">South Jersey Hospital, 5.00%, 7/01/46</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,708,014</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">St. Barnabas Health Care System, Series A, 5.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,844,588</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">21,263,926</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 10.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Middlesex County Improvement Authority, RB, AMT (Fannie Mae):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Administration Building Residential Project, 5.35%, 7/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,401,652</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New Brunswick Apartments Rental Housing, 5.30%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,330,103</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey State Housing &amp; Mortgage Finance Agency, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">M/F Housing, Series A, 4.55%, 11/01/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600,768</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">S/F Housing, Series CC, 5.00%, 10/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,445</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,563,389</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">S/F Housing, Series X, AMT, 4.85%, 4/01/16</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">995</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,021,278</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.75%, 11/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,266,694</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series AA, 6.38%, 10/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,055</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,137,417</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series AA, 6.50%, 10/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,248,358</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,569,659</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 28.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Garden State Preservation Trust, RB, CAB, Series B (AGM), 2.99%, 11/01/26 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,989,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Kapkowski Road Landfill Project, Series B, AMT, 6.50%, 4/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,935,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 7/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,365</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,686,976</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">36</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_06-51807-soi PAGE POSITION: 1 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_06-51807-soi PAGE POSITION: 2 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New Jersey
Municipal Income Trust (BNJ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New Jersey (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB (concluded):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, Series KK, 5.00%, 3/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;1,146,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, Series KK, 5.00%, 3/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">893,856</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, Series Z (AGC), 5.50%, 12/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,496,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 6/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">810</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">923,351</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">(AGM), 5.00%, 6/15/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,480,490</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Cigarette Tax, 5.00%, 6/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,116,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">School Facilities Construction, Series GG, 5.25%, 9/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,136,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Special Assessment Bonds, Refunding, Kapkowski Road Landfill Project, 6.50%, 4/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,002,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
Jersey Health Care Facilities Financing Authority, RB, Hospital Asset Transformation Program, Series A, 5.25%, 10/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,573,532</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">State of New Jersey, COP, Equipment Lease Purchase, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 6/15/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,263,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.25%, 6/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">677,382</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">35,321,597</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 25.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Delaware River Port Authority of Pennsylvania &amp; New Jersey, RB, Series D, 5.00%, 1/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">893,424</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey State Turnpike Authority, RB, Series E, 5.25%, 1/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,970</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,210,892</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey State Turnpike Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.00%, 1/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">620</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">711,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 1/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,656,158</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Transportation Trust Fund Authority, RB, Transportation System:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">CAB, Series C (AGM), 4.33%, 12/15/32 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,707,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 6.00%, 6/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,092,004</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.88%, 12/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,770</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,087,326</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 6.00%, 12/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">945</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,127,640</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.50%, 6/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,324,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A (AGC), 5.50%, 12/15/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,158,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 6/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,465,596</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, RB, JFK International Air Terminal, Special Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 6, AMT (NPFGC), 5.75%, 12/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,002,220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 8, 6.00%, 12/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,430</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,699,955</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, Refunding RB, Consolidated 152nd Series, AMT, 5.75%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,039,748</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">South Jersey Transportation Authority, Refunding RB, Series A, 5.00%, 11/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,162,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">31,339,513</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 2.7%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Rahway Valley Sewerage Authority, RB, CAB, Series A (NPFGC), 4.24%, 9/01/33 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">843,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Union County Utilities Authority, Refunding RB, New Jersey Solid Waste System, County Deficiency Agreement, Series A, 5.00%,
6/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,185</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,508,096</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,351,376</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in New Jersey</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">153,253,091</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico &#151; 12.2%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 3.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Puerto Rico Housing Finance Authority, RB, Mortgage-Backed Securities, Series B, AMT (Ginnie Mae), 5.30%,&nbsp;12/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;2,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;2,097,744</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Puerto Rico Housing Finance Authority, Refunding RB, Mortgage-Backed Securities, Series A (Ginnie Mae), 5.20%,&nbsp;12/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,098,415</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,196,159</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 8.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Public Buildings Authority, RB, CAB, Series D (AMBAC), 5.45%, 7/01/17 (e)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,665</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,180,571</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 8/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,323,706</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">6.00%, 8/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,475,607</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Sales Tax Financing Corp., Refunding RB, First Sub, Series C, 6.00%, 8/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,937,351</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10,917,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in Puerto Rico</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,113,394</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 135.5%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">168,366,485</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (f)</B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New Jersey &#151; 21.1%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 1.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Rutgers State University of New Jersey, Refunding RB, Series F, 5.00%, 5/01/39</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,499</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,664,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 5.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, RB, School Facilities Construction, Series Z (AGC), 6.00%, 12/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;3,578,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey EDA, Refunding RB, School Facilities Construction, Series NN, 5.00%, 3/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,788</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,257,042</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,835,052</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 9.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
Jersey Transportation Trust Fund Authority, RB, Transportation System:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A (AGM), 5.00%, 12/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,269,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.25%, 6/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,865,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, RB, Consolidated, 152nd Series, AMT, 5.00%, 10/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,922,683</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, Refunding RB, 152nd Series, 5.25%, 11/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,039</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,253,231</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">11,311,434</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 5.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Union County Utilities Authority, Refunding LRB, New Jersey Resource Recovery Facility, Covanta Union, Inc.,
Series A, AMT, 5.25%,&nbsp;12/01/31</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,710</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,389,662</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts in New
Jersey</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">26,200,538</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico &#151; 1.1%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico Sales Tax Financing Corp., Refunding RB, Senior Series C, 5.25%, 8/01/40</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,283,651</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151;
22.2%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27,484,189</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $180,115,200) &#151; 157.7%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">195,850,674</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">37<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_06-51807-soi PAGE POSITION: 2 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_06-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New Jersey
Municipal Income Trust (BNJ)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; border-bottom: Black 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>&nbsp;<BR>Short-Term
Securities</B></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares</B></FONT></TD>
     <TD STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BIF New Jersey Municipal Money Fund, 0.00% (g)(h)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">670,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;670,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $670,723) &#151; 0.5%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">670,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Total Investments (Cost&#151;$180,785,923) &#151; 158.2%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">196,521,397</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Other Assets Less Liabilities &#151; 1.0%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,212,167</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Liability for TOB Trust Certificates, Including Interest<BR> Expense and Fees Payable &#151; (11.6)%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(14,371,615</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>VMTP Shares, at Liquidation Value &#151; (47.6)%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">124,261,949</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Non-income producing security.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Variable rate security. Rate shown is as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the
date indicated, typically at a premium to par.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(f)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These
securities serve as collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred
to TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(g)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of
Section 2(a)(3) of the 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 40%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="40%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BIF New Jersey Municipal Money Fund</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">2,329,356</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">(1,658,633)</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">670,723</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(h)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">For
Trust compliance purposes, the Trust&#146;s industry classifications refer to any one or more of the industry sub-classifications used by one or more
widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this
report, which may combine such industry sub-classifications for reporting ease.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fair
Value Measurements &#151; Various inputs are used in determining the fair value of investments. These inputs to valuation techniques are categorized
into a disclosure hierarchy consisting of three broad levels for financial statement purposes as follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the
ability to access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets
that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 4%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 96%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are
not available (including the Trust&#146;s own assumptions used in determining the fair value of investments)</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; width: 98%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1
measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair
value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value
hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety
is determined based on the lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt; padding-bottom: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the
Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the
reporting period. The categorization of a value determined for investments is based on the pricing transparency of the investment and is not
necessarily an indication of the risks associated with investing in those securities. For information about the Trust&#146;s policy regarding valuation
of investments and other significant accounting policies, please refer to Note 1 of the Notes to Financial Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">The
following table summarizes the Trust&#146;s investments categorized in the disclosure hierarchy as of January 31, 2013:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt; margin-top: 3pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD COLSPAN="8" STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Assets:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</SUP></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">195,850,674</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">195,850,674</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">670,723</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">670,723</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">670,723</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">195,850,674</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="border-bottom: Black 2px solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">196,521,397</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: Black 2px solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">See above Schedule of Investments for values in each
sector.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Certain of the Trust&#146;s liabilities are held at carrying amount or face value, which approximates fair value for financial statement purposes.
As of January 31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Bank overdraft </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(54,971</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(54,971</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(14,366,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(14,366,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">VMTP Shares </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;(73,521,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(73,521,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="TOP">
     <TD COLSPAN="7" STYLE="text-align: left; vertical-align: top"><FONT STYLE="font: 9pt Arial, Helvetica, sans-serif"><DIV STYLE="margin-left: 0px; text-indent: 0px; text-align: left">There were no transfers between levels during the six months ended January 31, 2013.</DIV>

 </FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">38</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_06-51807-soi PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;January 31, 2013 (Unaudited)</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York &#151; 119.6%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Corporate &#151; 15.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Chautauqua County Industrial Development Agency, RB, NRG Dunkirk Power Project, 5.88%, 4/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;1,129,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Essex County Industrial Development Agency New York, RB, International Paper Co. Project, Series A, AMT, 6.63%,&nbsp;9/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">613,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York City Industrial Development Agency, RB, American Airlines Inc., JFK International Airport, AMT&nbsp;(a)(b)(c):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.63%, 8/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,679,616</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.75%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,599,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Industrial Development Agency, Refunding RB, Senior TRIPS, Series A, AMT, 5.00%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">846,564</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,358,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Niagara Area Development Corp., Refunding RB, Covanta Energy Project, Series A, AMT, 5.25%, 11/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,547,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, RB, Continental Airlines Inc. and Eastern Air Lines Inc. Project, LaGuardia, AMT, 9.13%,
12/01/15</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,720</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,838,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Suffolk County Industrial Development Agency New York, RB, KeySpan, Port Jefferson, AMT, 5.25%, 6/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">7,092,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">30,704,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>County/City/Special District/School District &#151; 27.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of New York, New York, GO:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A-1, 4.75%, 8/15/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">862,582</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A-1, 5.00%, 8/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,160,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.38%, 6/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">25,093</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series G-1, 5.00%, 4/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">893,925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series A-1, 4.00%, 10/01/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">375,522</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series G-1, 5.00%, 4/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,977,450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series G-1, 6.25%, 12/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">617,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Sub-Series I-1, 5.38%, 4/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,077,372</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of New York, New York, GO, Refunding, Series B, 3.00%, 8/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">593,268</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hudson New York Yards Infrastructure Corp., RB, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,485</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,825,618</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.75%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">238,662</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">(AGC), 5.00%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,064,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">(AGM), 5.00%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,064,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">(NPFGC), 4.50%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,970</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,041,846</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Transportation Authority, Refunding RB, Transportation, Series D, 5.00%, 11/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">902,072</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Monroe County Industrial Development Corp., RB, Series A, 5.00%, 7/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,211,467</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Industrial Development Agency, RB, PILOT:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">CAB, Yankee Stadium Project, Series A, 4.79%, 3/01/45 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">329,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">CAB, Yankee Stadium Project, Series A (AGC), 4.64%, 3/01/42 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,960</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">515,833</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">Queens Baseball Stadium, PILOT (AGC), 6.38%, 1/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">176,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">Queens Baseball Stadium, PILOT (AMBAC), 5.00%, 1/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,023,190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 30px; text-indent: -10px">Yankee Stadium, PILOT (NPFGC), 4.75%, 3/01/46</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,535,595</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">273,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/44</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9,660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,541,282</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.75%, 11/15/45</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">541,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>County/City/Special District/School District (concluded)</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Liberty Development Corp., Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4 World Trade Center Project, 5.00%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;860</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;986,257</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4 World Trade Center Project, 5.75%, 11/15/51</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,340</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,589,749</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7 World Trade Center Project, Class 2, 5.00%, 9/15/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,857,224</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7 World Trade Center Project, Class 3, 5.00%, 3/15/44</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,243,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Second Priority, Bank of America Tower at One Bryant Park Project, 5.63%, 7/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,309,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Second Priority, Bank of America Tower at One Bryant Park Project, 6.38%, 7/15/49</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,425,996</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, RB, State University Dormitory Facilities, Series A, 5.00%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">839,265</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York State Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%,&nbsp;10/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">436,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">54,555,539</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 25.6%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (b)(c):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.00%, 5/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">910</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">136,445</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7.00%, 5/01/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">88,465</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Amherst Development Corp., Refunding RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.63%,&nbsp;10/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,190,222</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">City of Troy Capital Resource Corp., Refunding RB, Rensselaer Polytechnic, Series A, 5.13%, 9/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,592,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Dutchess County Industrial Development Agency New York, RB, Bard College Civic Facility, Series A-2, 4.50%,&nbsp;8/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,180,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Madison County Industrial Development Agency New York, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Colgate University Project, Series B, 5.00%, 7/01/13 (e)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,040,040</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Commons II LLC, Student Housing, Series A (CIFG), 5.00%, 6/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">287,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Nassau County Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%,&nbsp;3/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,165</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,277,679</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Trust for Cultural Resources, RB, Juilliard School, 5.00%, 1/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">870,862</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Trust for Cultural Resources, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Carnegie Hall, 4.75%, 12/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,181,140</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Museum of Modern Art, Series 1A, 5.00%, 4/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,164,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Convent of the Sacred Heart (AGM), 5.25%, 11/01/24</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">155</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">179,785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Convent of the Sacred Heart (AGM), 5.63%, 11/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">900,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Convent of the Sacred Heart (AGM), 5.75%, 11/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">210</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">249,722</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Mount Sinai School of Medicine, 5.13%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,208,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University, Series 1 (AMBAC), 5.50%, 7/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,933,128</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University, Series A (AMBAC), 5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,106,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University, Series B, 5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,447,062</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Rochester Institute of Technology, Series A, 6.00%, 7/01/18 (e)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,262,080</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Teachers College, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">564,420</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">University of Rochester, Series A, 0.00%, 7/01/39 (f)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">686,523</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">University of Rochester, Series A, 5.13%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">967,351</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">University of Rochester, Series B, 5.00%, 7/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">543,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">39<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_07-51807-soi PAGE POSITION: 1 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_07-51807-soi PAGE POSITION: 2 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Brooklyn Law School, 5.75%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;475</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;546,231</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Cornell University, Series A, 5.00%, 7/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,158,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Culinary Institute of America, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">323,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Fordham University, 4.00%, 7/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">555</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">589,909</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University, Series A, 5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,072,193</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Rochester Institute Technology, 4.00%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,147,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Rochester Institute Technology, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,051,698</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Rockefeller University, Series B, 4.00%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,835</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,945,834</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Saint John&#146;s University, Series A, 5.00%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">261,017</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Skidmore College, Series A, 5.00%, 7/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">221,610</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Skidmore College, Series A, 5.00%, 7/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">75</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">86,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Skidmore College, Series A, 5.25%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">85</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">99,682</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Teachers College, 5.50%, 3/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">507,587</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Third Generation Resolution, State University Educational Facilities, Series A, 5.00%, 5/15/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,384,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Orange County Funding Corp., Refunding RB, Mount State Mary College, Series A:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">403,607</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">220</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">244,966</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">St.
Lawrence County Industrial Development Agency, RB, Clarkson University Project, 5.38%, 9/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">316,014</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Suffolk County Industrial Development Agency, Refunding RB, New York Institute of Technology Project, 5.00%,&nbsp;3/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,030,430</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Tompkins County Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">818,188</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Westchester County Industrial Development Agency New York, RB, Windward School Civic Facility (Radian), 5.25%,&nbsp;10/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,502,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Yonkers Industrial Development Agency New York, RB, Sarah Lawrence College Project, Series A, 6.00%,&nbsp;6/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">625</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">708,481</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">51,479,449</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health &#151; 16.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Dutchess County Local Development Corp., Refunding RB, Health Quest System Inc., Series A, 5.75%,&nbsp;7/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">350,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Genesee County Industrial Development Agency New York, Refunding RB, United Memorial Medical Center Project, 5.00%,&nbsp;12/01/27</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500,010</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Monroe County Industrial Development Corp., Refunding RB, Unity Hospital of Rochester Project (FHA), 5.50%,&nbsp;8/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,050</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,213,527</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Nassau County Local Economic Assistance Corp., Refunding RB, Winthrop University Hospital Association&nbsp;Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.25%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">353,238</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,952,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Hudson Valley Hospital (BHAC), 5.00%, 8/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">824,872</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">230,242</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University Hospital Center, Series A, 6.00%, 7/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">589,235</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University Hospital Center, Series B, 5.63%, 7/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">580,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, 5.50%, 5/01/13 (e)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,026,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series A, 5.50%, 5/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,028,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series C, 4.25%, 5/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">797,138</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series D, 4.25%, 5/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,169,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York (continued)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Health (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, RB (concluded):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series D, 5.00%, 5/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;362,227</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Nysarc Inc., Series A, 6.00%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">589,505</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Miriam Osborn Memorial Home Association, 5.00%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">316,016</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Miriam Osborn Memorial Home Association, 5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">115</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">122,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Mount Sinai Hospital, Series A, 5.00%, 7/01/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,385</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,564,496</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">New York University Hospital Center, Series A, 5.00%, 7/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,599,163</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series A, 5.00%, 5/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,969,975</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">North Shore-Long Island Jewish Health System, Series E, 5.50%, 5/01/33</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,252,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Onondaga Civic Development Corp., RB, Saint Joseph&#146;s Hospital Health Center Project:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.50%, 7/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,225</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,179,689</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 7/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">554,261</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Suffolk County Industrial Development Agency New York, Refunding RB, Jeffersons Ferry Project, 5.00%,&nbsp;11/01/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,204,763</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Westchester County Healthcare Corp. New York, Refunding RB, Senior Lien:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, Remarketing, 5.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,772,450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 6.00%, 11/01/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">596,905</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Westchester County IDA New York, RB, Kendal on Hudson Project, Series A, 6.38%, 1/01/24</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,000,900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">32,701,291</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 1.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Mortgage Agency, Refunding RB, Homeowner Mortgage, Series 97, AMT, 5.50%, 4/01/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,120</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,121,400</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York State HFA, RB, M/F Housing, Series A, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,553,145</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Yonkers EDC, Refunding RB, Riverview II (Freddie Mac), 4.50%, 5/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,086,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,760,725</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 7.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Transitional Finance Authority, BARB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series S-1, 4.00%, 7/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,225</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,322,989</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series S-2 (NPFGC), 4.25%, 1/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,767,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, ERB, Series B, 5.75%, 3/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">727,872</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York State Dormitory Authority, RB, Mental Health Services Facilities Improvement, Series B (AMBAC), 5.00%,&nbsp;2/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,137,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Dormitory Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">General Purpose Bonds, Series A, 5.00%, 12/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,460,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">General Purpose, Series D, 5.00%, 2/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">585,995</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Thruway Authority, Refunding RB, Series A, 5.00%, 4/01/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">4,124,785</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">14,126,969</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Tobacco &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Rensselaer Tobacco Asset Securitization Corp., RB, Series A, 5.75%, 6/01/43</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,243,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 19.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Transportation Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series 2008C, 6.50%, 11/15/28</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,272,460</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.25%, 11/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,004,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series H, 4.00%, 11/15/34</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,088,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series H, 5.00%, 11/15/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,979,845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
<!-- table_boopfix mode="ep" -->
</TR>
</TABLE>
<!-- agabop mode="ep" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">40</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_07-51807-soi PAGE POSITION: 2 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_07-51807-soi PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"><TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Metropolitan Transportation Authority, Refunding RB, Series F:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;2,530</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;2,956,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">(AGM), 4.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,260,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.00%,&nbsp;12/15/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,420,922</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Thruway Authority, RB, Series I, 5.00%, 1/01/27 (g)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,369,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Thruway Authority, Refunding RB, General, Series I:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 1/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,043,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4.13%, 1/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,075</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,121,031</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 1/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">315,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Consolidated, 124th Series, AMT, AMT, 5.00%, 8/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,006,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">JFK International Air Terminal, 6.00%, 12/01/42</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,188,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Special Project, JFK International Air Terminal, Series 6 AMT (NPFGC), 6.25%, 12/01/13</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,019,430</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Special Project, JFK International Air Terminal, Series 6 AMT (NPFGC), 5.75%, 12/01/22</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,002,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Port Authority of New York &amp; New Jersey, Refunding RB, One Hundred Seventy-Seven, AMT, 4.00%,&nbsp;1/15/43 (g)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,007,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Triborough Bridge &amp; Tunnel Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 5.00%, 11/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">297,630</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 3.13%, 11/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">739,072</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 3.70%, 11/15/32 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">409,293</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series B, 5.00%, 11/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">190</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">227,183</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">38,730,872</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 6.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Long Island Power Authority, RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A (AGM), 5.00%, 5/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">564,395</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series C (CIFG), 5.25%, 9/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,454,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Long Island Power Authority, Refunding RB, Series A, 5.75%, 4/01/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,763,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, RB, Series B, 5.00%, 6/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">750</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">835,890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, Refunding RB, Second General Resolution:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series BB, 5.00%, 6/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,164,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series EE, 4.00%, 6/15/45</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,407,159</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Environmental Facilities Corp., Refunding RB, Revolving Funds, New York City Municipal Water, 5.00%, 6/15/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">412,247</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,602,761</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in New York</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">240,905,526</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico &#151; 6.5%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 1.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">Puerto Rico Housing Finance Authority, Refunding RB, Subordinate, Capital Fund Modernization, 5.13%,&nbsp;12/01/27</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,684,175</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 3.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Public Buildings Authority, Refunding RB, Government Facilities, Series D, 5.25%, 7/01/36</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,600</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,599,984</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Sales Tax Financing Corp., RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">CAB, Series A, 5.62%, 8/01/32 (d)</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,685</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">571,771</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">First Sub-Series A, 5.75%, 8/01/37</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,161,760</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">First Sub-Series A (AGM), 5.00%, 8/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,051,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB, Series A (NPFGC) (d):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.60%, 8/01/41</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;3,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;725,620</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.60%, 8/01/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">464,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">6,575,035</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 1.1%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico Highway &amp; Transportation Authority, Refunding RB, Series CC (AGM), 5.50%,
7/01/30</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,252,560</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 0.8%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Aqueduct &amp; Sewer Authority, Refunding RB, Senior Lien, Series A, 6.00%, 7/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,138,929</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Electric Power Authority, Refunding RB, Series VV (NPFGC), 5.25%, 7/01/29</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">517,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,656,199</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds in Puerto Rico</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13,167,969</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Total Municipal Bonds &#151; 126.1%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">254,073,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD>&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><HR SIZE="12" NOSHADE COLOR="#000000">&nbsp;</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (h)<BR></B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York &#151; 33.3%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>County/City/Special District/School District &#151; 6.9%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Transitional Finance Authority, RB, Future Tax Secured, Sub-Series D1, 5.00%, 11/01/38</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">825</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;953,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Liberty Development Corp., RB, Class 1, 7 World Trade Center Project, Class 1, 4.00%, 9/15/35</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,260</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,424,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York Liberty Development Corp., Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">4 World Trade Center Project, 5.00%, 11/15/44</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,020</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,629,629</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">7 World Trade Center Project, Class 1, 5.00%, 9/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,610</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,981,272</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,989,071</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Education &#151; 0.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New York State Dormitory Authority, Refunding LRB, State University Dormitory Facilities, Series A, 5.00%,&nbsp;7/01/42</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">900</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,037,907</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Housing &#151; 7.3%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York Mortgage Agency, RB, 31st Series A, AMT, 5.30%, 10/01/31</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">14,697,322</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 0.4%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York City Transitional Finance Authority, BARB, Series S-3, 5.25%, 1/15/39</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">660</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">740,655</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Transportation &#151; 6.0%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Hudson New York Yards Infrastructure Corp., RB, Series A, 5.75%, 2/15/47</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,491,507</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 10px; text-indent: -10px">New
York Liberty Development Corp., RB, 1 World Trade Center Port Authority Construction, 5.25%,&nbsp;12/15/43</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,472,656</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York State Thruway Authority, Refunding RB, Series A, 5.00%, 3/15/31</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,400,459</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Port Authority of New York &amp; New Jersey, RB, Consolidated 169th Series, AMT, 5.00%, 10/15/26</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,750,800</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12,115,422</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities &#151; 12.2%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, RB, Fiscal 2009, Series A, 5.75%, 6/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,430,771</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Second General Resolution, Series BB, 5.00%, 6/15/44</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,511</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,981,277</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Second General Resolution, Series HH, 5.00%, 6/15/32</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,310</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,197,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">41<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_07-51807-soi PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_07-51807-soi PAGE POSITION: 4 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>(Percentages shown are based on Net Assets)<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" NOWRAP STYLE="text-align: left; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Municipal Bonds Transferred to<BR>
Tender Option Bond Trusts (h)</B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Par<BR> (000)</B><BR></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><BR></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New York (concluded)</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Utilities (concluded)</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">New
York City Municipal Water Finance Authority, Refunding RB (concluded):</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series A, 4.75%, 6/15/30</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;4,477,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series D, 5.00%, 6/15/39</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,411,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">Series FF-2, 5.50%, 6/15/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">810</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">955,835</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Suffolk County Water Authority, Refunding RB, 3.00%, 6/01/25</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,996</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">2,070,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">24,525,193</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts in New
York</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">67,105,570</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=12><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="12" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><B><FONT FACE="Arial, Helvetica, sans-serif"
STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Puerto Rico &#151; 3.5%</DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>State &#151; 3.5%</B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Puerto Rico Sales Tax Financing Corp., Refunding RB:</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px">5.00%, 8/01/40</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,349,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 30px; TEXT-INDENT: -10px">Series C, 5.25%, 8/01/40</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,520</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,653,517</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR>Tender Option Bond Trusts in Puerto
Rico</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,003,367</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Municipal Bonds Transferred to<BR> Tender Option Bond Trusts &#151;
36.8%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">74,108,937</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Long-Term Investments<BR> (Cost &#151; $306,785,752) &#151; 162.9%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">328,182,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>&nbsp;<BR>Short-Term
Securities<BR></B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BIF New York Municipal Money Fund, 0.00% (i)(j)</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8 STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: px; TEXT-INDENT: 0px"><B>Total Short-Term Securities<BR> (Cost &#151; $3,477,638) &#151; 1.7%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Total Investments (Cost&#151;$310,263,390) &#151; 164.6%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">331,660,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Other Assets Less Liabilities &#151; 0.4%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">871,668</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Liability for TOB Trust Certificates, Including Interest<BR> Expense and Fees Payable &#151; (18.1)%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(36,566,487</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>VMTP Shares, at Redemption Value &#151; (46.9)%</B></DIV></FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(94,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=8><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px"><B>Net Assets Applicable to Common Shares &#151; 100.0%</B></DIV></FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 2pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">201,465,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='padding-bottom: 2pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="color: Gray; font: 10pt Arial, Helvetica, Sans-Serif"><B>Notes to Schedule of Investments</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(a)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Variable rate security. Rate shown is as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(b)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(c)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Non-income producing security.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(d)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(e)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the
date indicated, typically at a premium to par.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(f)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">Represents a step-up bond that pays an initial coupon rate for the first period and then a higher coupon rate for the following
periods. Rate shown is as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="2%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(g)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" WIDTH="98%" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">When-issued security. Unsettled when-issued transactions were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Counterparty<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Unrealized<BR> Depreciation</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Pershing LLC </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,369,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(1,320</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Wells Fargo &amp; Co. </DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1,007,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(9,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(h)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as
collateral in a financing transaction. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred to
TOBs.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(i)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Investments in issuers considered to be an affiliate of the Trust during the six months ended January 31, 2013, for purposes of Section 2(a)(3) of
the 1940 Act, as amended, were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 37.5%; text-align: left; border-top: Black 1pt solid; padding-top: 6pt"></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt; width: 5%"></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt; width: 7%"></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Affiliate<BR></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD NOWRAP><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE="1" NOSHADE COLOR="#000000" ALIGN="LEFT"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> July 31, 2012</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Net<BR> Activity</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares Held at<BR> January 31,
2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Income</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     </TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BIF New York Municipal Money Fund </DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">344,945</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">3,132,693</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">3,477,638</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom"><FONT STYLE="font: 9pt Arial, Helvetica, sans-serif">$197</FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(j)</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Represents the current yield as of report date.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Financial futures contracts as of January 31, 2013 were as follows:</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Contracts Sold</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid; padding-top: 6pt; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Issue</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Exchange</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Expiration</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Notional<BR> Value</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; border-top: Black 1pt solid; padding-top: 6pt; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD NOWRAP STYLE="border-top: Black 1pt solid; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Unrealized<BR> Depreciation</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">(26)<BR></DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">30-Year US Treasury Note</DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Chicago Board of Trade</DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">March 2013</DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$(3,730,188)</DIV></FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">$(6,947)<BR></DIV></FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">For
Trust compliance purposes, the Trust&#146;s sector classifications refer to any one or more of the sector sub-classifications used by one or more
widely recognized market indexes or ratings group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this
report, which may combine such sector sub-classifications or reporting ease.</DIV></FONT></TD>
<!-- table_boopfix mode="frill" -->
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">42</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid; vertical-align: top"><FONT color=gray>Schedule of Investments (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT color=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>&nbsp;<BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt"></TR>
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Fair
Value Measurements&#151;Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to
valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial statement purposes as
follows:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
    <TD STYLE="padding-top: 3pt">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Level 1 &#151; unadjusted price quotations in active markets/exchanges for identical assets and liabilities that the Trust has the ability to
access</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
    <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="text-align: right; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Level 2 &#151; other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active,
quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for
the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or
other market-corroborated inputs)</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
    <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="text-align: right; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#149;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Level 3 &#151; unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available
(including the Trust&#146;s own assumptions used in determining the fair value of investments and derivative financial instruments)</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">The
hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the
lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for
instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases,
for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the
lowest level input that is significant to the fair value measurement in its entirety.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the
Trust&#146;s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the
reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of
the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For
information about the Trust&#146;s policy regarding valuation of investments and derivative financial instruments and other significant accounting
policies, please refer to Note 1 of the Notes to Financial Statements.</DIV></FONT></TD>
</TR>
<TR VALIGN="TOP">
     <TD STYLE="text-align: right; width: 1%; padding-top: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD STYLE="padding-top: 3pt">&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-top: 3pt; padding-bottom: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">The
following table summarizes the Trust&#146;s investments and derivative financial instruments categorized in the disclosure hierarchy as of January 31,
2013:</DIV></FONT></TD>
</TABLE>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Assets:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Investments:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Long-Term Investments<SUP>1</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;328,182,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">328,182,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Short-Term Securities</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">328,182,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">331,660,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>

<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
     <TD COLSPAN="19" STYLE="text-align: left; padding-left: 22pt"><P><FONT STYLE="font: 9pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;See
                                               above Schedule of Investments for values in each sector.</FONT></P>


</TD></TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px">Derivative Financial Instruments<SUP>2<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Assets:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Interest rate contracts </DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;(6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 9pt Arial, Helvetica, Sans-Serif; margin-top: 3pt; margin-bottom: 3pt">
<TR STYLE="vertical-align: top">
<TD STYLE="width: 22pt"></TD>
<TD STYLE="width: 22pt; text-align: left"><SUP>2</TD>
<TD>Derivative financial instruments are financial futures contracts which are valued at unrealized appreciation/depreciation on the instrument.
</TD></TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD COLSPAN="3" STYLE="text-align: left; padding-bottom: 3pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Certain of the Trust&#146;s liabilities are held at carrying amount, which approximates fair value for financial statement purposes. As of January
31, 2013, such liabilities are categorized within the disclosure hierarchy as follows:</DIV></FONT></TD>
</TR></TABLE>
<TABLE ALIGN="CENTER" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 1</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 2</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Level 3</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Total</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Liabilities:<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Bank overdraft </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(87,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(87,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">TOB trust certificates </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(36,551,462</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(36,551,462</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">VMTP Shares </DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(94,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(94,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><B>Total<BR></B></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(131,139,360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(131,139,360</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="RIGHT" WIDTH="1%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;</FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">There were no transfers between levels during the six months ended January 31, 2013.</DIV></FONT></TD>
</TR></TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">43<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_07-51807-soi PAGE POSITION: 5 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 8pt Arial, Helvetica, Sans-Serif">
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Statements of Assets and Liabilities</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>January 31, 2013 (Unaudited)</B><BR></FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>California</B><BR>
     <B>Municipal</B><BR><B> Income Trust</B><BR><B> (BFZ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>Florida</B><BR><B> Municipal 2020</B><BR><B> Term Trust</B><BR><B> (BFO)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>Municipal</B><BR><B> Income</B><BR>
     <B>Investment Trust</B><BR><B> (BBF)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>Municipal</B><BR><B> Target</B><BR>
     <B>Term Trust</B><BR><B> (BTT)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>New Jersey</B><BR>
     <B>Municipal</B><BR><B> Income Trust</B><BR><B> (BNJ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>New York</B><BR><B> Municipal</B><BR>
     <B>Income Trust</B><BR><B> (BNY)</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Assets</B><BR></FONT></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments at value &#151; unaffiliated<SUP>1</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">862,742,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">114,782,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">174,863,246</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,793,501,295</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">195,850,674</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">328,182,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments at value &#151; affiliated<SUP>2</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">670,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Cash</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">103</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Cash pledged as collateral for financial futures contracts</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">198,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Interest receivable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">12,173,349</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,226,064</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,076,647</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">18,719,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,954,082</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,438,182</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments sold receivable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">325,391</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">91,229</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">295,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">10,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,051,644</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Deferred offering costs</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">164,984</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">172,808</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">876,403</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">101,641</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">120,162</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Prepaid expenses</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">27,817</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">44,367</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">38,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">8,437</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,940</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total assets</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">877,849,982</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">116,162,796</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">178,132,706</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,813,512,763</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">198,595,557</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">337,283,998</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Accrued
                                                                                          Liabilities</B><BR></FONT></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Bank overdraft</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">159,332</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">54,971</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">87,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments purchased payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,727,374</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">159,655,511</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,398,788</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Income dividends payable &#151; Common Shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,475,850</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">311,479</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">485,240</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,980,052</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">620,387</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">967,412</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investment advisory fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">427,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">54,873</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">90,394</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">790,191</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">99,715</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">169,412</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Interest expense and fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">101,215</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">347</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16,822</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">77,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,858</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15,025</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Officer&#146;s and Trustees&#146; fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">62,543</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">8,339</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16,797</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">10,958</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">19,901</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">29,826</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Variation margin payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">14,063</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Offering costs payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">879,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Other accrued expenses payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">128,219</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">68,690</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">69,882</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">210,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">67,019</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">91,977</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total accrued liabilities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">9,095,886</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">443,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">679,135</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">168,603,892</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">866,851</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,767,285</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Other
                                                                                          Liabilities</B></FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">TOB trust certificates</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">169,154,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">35,195,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">462,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">14,366,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">36,551,462</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">RVMTP Shares, at liquidation value of $5,000,000 per share<SUP>3,4</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">500,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">VMTP Shares, at liquidation value of $100,000 per share<SUP>3,4</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">171,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">94,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">VRDP Shares, at liquidation value of $100,000 per share<SUP>3,4</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">34,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total other liabilities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">340,454,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">69,395,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">962,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">73,466,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">131,051,462</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total liabilities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">349,549,959</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">803,728</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">70,074,925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,131,198,840</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">74,333,608</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">135,818,747</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>AMPS
                                                                                          at Redemption Value</B></FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">$25,000 per share liquidation preference, plus unpaid dividends<SUP>3,4</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">26,100,469</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Net Assets Applicable to Common Shareholders</B></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">528,300,023</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">89,258,599</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">108,057,781</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="LEFT" STYLE="border-bottom: Black 2px solid">
     &nbsp;<TD ALIGN="LEFT" STYLE="border-bottom: Black 2px solid"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">$1,682,313,923</FONT></TD>
           <TD ALIGN="LEFT" STYLE="border-bottom: Black 2px solid">&nbsp;</TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">124,261,949</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">201,465,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD COLSPAN="3" STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Net
                                                                                          Assets Applicable to Common Shareholders
                                                                                          Consist of</B></FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Paid-in capital<SUP>5,6,7</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">447,138,515</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">79,391,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">95,095,860</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,680,741,508</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">108,731,878</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">183,019,196</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Undistributed (distributions in excess of) net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,424,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,782,147</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">639,689</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(12,202,552</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,800,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,732,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net realized gain (accumulated net realized loss)</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(21,525,467</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(682,733</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(7,854,977</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">53,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(2,006,393</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(5,675,846</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net unrealized appreciation/depreciation</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">96,262,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,767,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">20,177,209</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,721,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15,735,474</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">21,389,733</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Net Assets Applicable to Common Shareholders</B></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">528,300,023</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">89,258,599</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">108,057,781</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="LEFT" COLSPAN="3" STYLE='border-bottom: Black 2px solid'><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">$1,682,313,923<BR></FONT></DIV></FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">124,261,949</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">201,465,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net asset value per Common Share</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16.58</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16.05</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16.12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">23.86</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16.24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15.62</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR><TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>1</SUP>&nbsp;Investments at cost &#151; unaffiliated</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">766,631,279</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">109,014,188</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">154,686,037</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,779,779,515</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">180,115,200</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">306,785,752</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>2</SUP>&nbsp;Investments at cost &#151; affiliated</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,217,891</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">57,308</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">975,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">81,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">670,723</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,477,638</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="margin-left: 15px; text-indent: -15px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>3</SUP>&nbsp;Preferred Shares outstanding, par
                                   value $ 0.001 per share</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,713</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,044</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">342</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">591</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">945</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>4</SUP>&nbsp;Preferred Shares authorized</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="margin-left: 15px; text-indent: -15px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>5</SUP>&nbsp;Par value per share per Common
                                   Share</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">0.001</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>6</SUP>&nbsp;Common Shares outstanding</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">31,864,226</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,562,128</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,704,527</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">70,505,571</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">7,649,650</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">12,898,822</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<SUP>7</SUP>&nbsp;Common Shares authorized</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">unlimited</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="soi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">44</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 1 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 2 -->
<DIV align=left>
<!-- agabop mode="main" last-style="soi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Statements of Operations</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 4px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Six Months Ended <BR>
January 31,
     2013 (Unaudited)<BR></B></FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
     <TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     California<BR>
     Municipal<BR> Income Trust<BR> (BFZ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     Florida<BR> Municipal 2020<BR> Term Trust<BR> (BFO)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     Municipal<BR> Income<BR>
     Investment Trust<BR> (BBF)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     Municipal<BR> Target<BR>
     Term Trust<SUP>1</SUP><BR> (BTT)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     New Jersey<BR>
     Municipal<BR> Income Trust<BR> (BNJ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>BlackRock<BR>
     New York<BR> Municipal<BR>
     Income Trust<BR> (BNY)</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Investment
                                                                                          Income</B></FONT><B><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Interest</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">18,609,258</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,486,591</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,832,737</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">19,775,813</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,456,051</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">7,363,590</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Income &#151; affiliated</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">17</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,716</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">119</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">946</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">197</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">18,609,275</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,488,307</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,832,856</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">19,776,759</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,456,051</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">7,363,787</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Expenses</B></FONT><B><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investment advisory</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,515,269</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">333,832</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">532,268</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,049,431</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">587,963</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">999,632</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Professional</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">33,194</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">32,007</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">21,005</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">104,035</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">27,923</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">33,390</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Accounting services</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">26,437</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15,125</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">24,065</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">77,740</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">22,925</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">44,157</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Liquidity fees</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">148,620</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Transfer agent</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">24,036</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">14,342</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">12,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">42,229</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,611</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">17,149</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Custodian</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">16,675</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,526</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,053</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">54,404</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,458</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">8,511</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Officer and Trustees</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">28,265</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,253</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,603</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">47,006</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,812</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">11,059</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Registration</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,646</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,631</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">9,238</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,718</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,662</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Organization</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">33,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Printing</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,903</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,133</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15,340</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,160</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Remarketing fees on Preferred Shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">25,937</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">17,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Miscellaneous</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">22,741</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">10,837</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">26,825</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">34,814</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">33,611</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">26,241</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total expenses excluding interest expense and fees and amortization
                                   of offering costs</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,676,081</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">447,408</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">805,266</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,467,237</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">705,181</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,146,801</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Interest expense, fees and amortization of offering costs<SUP>2</SUP></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,617,198</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,127</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">189,280</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">595,495</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">407,769</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">707,726</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total expenses</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,293,279</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">448,535</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">994,546</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,062,732</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,112,950</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,854,527</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Less fees waived by Manager</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(40,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(778</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(479</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(3,627</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(1,705</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(3,133</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,253,180</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">447,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">994,067</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">4,059,105</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,111,245</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,851,394</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">14,356,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,040,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,838,789</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">15,717,654</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">3,344,806</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">5,512,393</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Realized
                                                                                          and Unrealized Gain (Loss)</B></FONT><B><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net realized gain from:<BR></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,047,368</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">107,643</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,628,102</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">53,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">457,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,055,796</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Financial futures contracts</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">133,691</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">2,181,059</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">107,643</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,628,102</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">53,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">457,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,055,796</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net change in unrealized appreciation/depreciation on:<BR></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
<TD><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD></TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,443,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(219,343</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(177,769</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,721,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">505,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">354,828</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Financial futures contracts</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">150,929</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
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     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">6,594,514</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(219,343</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(177,769</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,721,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">505,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">347,881</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Total realized and unrealized gain (loss)</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">8,775,573</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(111,700</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,450,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">13,774,967</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">962,798</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">1,403,677</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 7pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="28" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Dividends
                                                                                          to AMPS Shareholders From</B></FONT><B><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">(52,732</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif"><B>Net Increase in Net Assets Applicable to Common Shareholders Resulting
                                   from Operations</B></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;23,131,668</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;1,876,118</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;4,289,122</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;29,492,621</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;4,307,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;6,916,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 7pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the period August 30, 2012 (commencement of
operations) to January 31, 2013.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Related to TOBs, VMTP Shares, RVMTP Shares and/or
VRDP Shares.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">45<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 2 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 3 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Statements of Changes in Net Assets</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 8pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock California</B><BR>
     <B>Municipal Income Trust (BFZ)</B><HR SIZE=1 NOSHADE COLOR="#000000"
     ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock Florida</B><BR>
     <B>Municipal 2020 Term Trust (BFO)</B><HR SIZE=1 NOSHADE COLOR="#000000"
     ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR
     SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="width: 100%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Increase (Decrease) in Net
Assets Applicable to Common Shareholders:</B></FONT><BR></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
     <B>Ended</B><BR><B> January 31,</B><BR><B>2013</B><BR><B>(Unaudited)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
     <B>July 31,</B><BR>
     <B>2012</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
     <B>Ended</B><BR><B> January 31,</B><BR><B>2013</B><BR><B>(Unaudited)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
     <B>July 31,</B><BR>
     <B>2012</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Operations</FONT><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14,356,095</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">30,391,363</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,040,550</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,751,324</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized gain</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,181,059</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,685,430</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">107,643</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15,599</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net change in unrealized appreciation/depreciation</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,594,514</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">70,149,440</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(219,343</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5,366,658</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(264,801</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(52,732</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(103,786</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase in net assets applicable to Common Shareholders resulting
                                   from operations</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23,131,668</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">106,961,432</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,876,118</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">10,029,795</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Dividends
                                                                                          to Common Shareholders From</FONT><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=24><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,849,294</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(29,300,306</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,868,875</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(3,889,885</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Capital
Share Transactions</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Reinvestment of common dividends</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">439,979</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">171,858</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net
Assets Applicable to Common Shareholders</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total increase in net assets applicable to Common Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8,722,353</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">77,832,984</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,243</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,139,910</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Beginning of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">519,577,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">441,744,686</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,251,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">83,111,446</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">End of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;528,300,023</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;519,577,670</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;89,258,599</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;89,251,356</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Undistributed net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,424,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,917,974</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,782,147</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,663,204</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock Municipal</B><BR>
     <B>Income Investment Trust (BBF)</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" WIDTH="3.5%" nowrap ALIGN="CENTER"></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" WIDTH="15%" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock Municipal</B><BR>
     <B>Target Term Trust (BTT)</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR
     SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Increase (Decrease) in Net
     Assets </B><BR>
     <B>Applicable to Common Shareholders:</B><BR></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
     <B>Ended</B><BR><B> January 31,</B><BR>
     <B>2013</B><BR><B>(Unaudited)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
     <B>July 31,</B><BR>
     <B>2012</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" WIDTH="3.5%" nowrap ALIGN="CENTER"></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" WIDTH="15%" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period</B><BR>
     <B>August 30,</B><BR>
     <B>2012<SUP>1</SUP> to</B><BR><B> January 31,</B><BR>
     <B>2013</B><BR><B> (Unaudited)</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="20" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Operations</FONT><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,838,789</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5,791,300</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15,717,654</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized gain</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,628,102</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,359,326</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">53,187</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net change in unrealized appreciation/depreciation</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(177,769</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15,725,171</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13,721,780</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(17,731</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase in net assets applicable to Common Shareholders resulting
                                   from operations</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,289,122</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,858,066</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">29,492,621</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="20" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Dividends
                                                                                          to Common Shareholders From</FONT><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,910,952</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(6,018,632</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(27,920,206</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="20" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Capital
                                                                                          Share Transactions</FONT><BR></B></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net proceeds from the issuance of shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,477,804,008</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net proceeds from the underwriter&#146;s over allotment option excercised</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">202,937,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Reinvestment of common dividends</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">62,151</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase in net assets derived from capital share transactions</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">62,151</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,680,741,508</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="20" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net
Assets Applicable to Common Shareholders</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total increase in net assets applicable to Common Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,430,680</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16,901,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,682,313,923</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Beginning of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">106,627,101</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,725,516</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">End of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;108,057,781</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;106,627,101</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,682,313,923</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Undistributed (distributions in excess of) net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">639,689</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">711,852</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 3.5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" WIDTH="15%" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(12,202,552</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Commencement of operations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">46</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 3 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 4 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Statements of Changes in Net Assets</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="CENTER"></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock New Jersey</B><BR>
     <B>Municipal Income Trust (BNJ)</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock New York</B><BR>
     <B>Municipal Income Trust (BNY)</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR
     SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Increase (Decrease) in Net
     Assets </B><BR>
     <B>Applicable to Common Shareholders:</B><BR></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
     <B>Ended</B><BR><B> January 31,</B><BR>
     <B>2013</B><BR><B>(Unaudited)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
     <B>July 31,</B><BR>
     <B>2012</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
     <B>Ended</B><BR><B> January 31,</B><BR>
     <B>2013</B><BR><B> (Unaudited)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
     <B>July 31,</B><BR>
     <B>2012</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Operations</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,344,806</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,279,409</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5,512,393</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11,927,277</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized gain (loss)</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">457,334</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(396,512</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,055,796</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(156,391</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net change in unrealized appreciation/depreciation</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">505,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16,446,899</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">347,881</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,413,217</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(90,161</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(143,845</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase in net assets applicable to Common Shareholders resulting
                                   from operations</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,307,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23,239,635</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,916,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,040,258</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Dividends
to Common Shareholders From</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(3,720,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(7,272,642</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(5,800,679</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(12,727,781</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Capital
Share Transactions</FONT></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Reinvestment of common dividends</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">177,930</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">303,612</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">329,838</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">714,632</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
     <TD STYLE="text-align: right">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net
Assets Applicable to Common Shareholders</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total increase in net assets applicable to Common Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">765,366</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16,270,605</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,445,229</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,027,109</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Beginning of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">123,496,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">107,225,978</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">200,020,022</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">177,992,913</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">End of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;124,261,949</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;123,496,583</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;201,465,251</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;200,020,022</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Undistributed net investment income</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,800,990</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,176,352</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,732,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,020,454</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">47<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 4 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 5 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Statements of Cash Flows</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD WIDTH="100%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months Ended </B><BR>
     <B>January 31, 2013 (Unaudited)</B><BR></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>California</B><BR>
     <B>Municipal</B><BR><B> Income Trust</B><BR><B> (BFZ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>Municipal</B><BR><B> Income</B><BR>
     <B>Investment Trust</B><BR><B> (BBF)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlacRock</B><BR>
     <B>Municipal</B><BR><B> Target</B><BR>
     <B>Term Trust</B><BR><B> (BTT)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>New Jersey</B><BR>
     <B>Municipal</B><BR><B> Income Trust</B><BR><B> (BNJ)</B></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>BlackRock</B><BR>
     <B>New York</B><BR><B> Municipal</B><BR>
     <B>Income Trust</B><BR><B> (BNY)</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
Provided by (Used for) Operating Activities</FONT><BR></DIV></FONT></B></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase in net assets resulting from operations, excluding dividends
                                   to AMPS Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;23,131,668</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;4,289,122</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">29,492,621</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;4,307,604</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;6,916,070</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Adjustments to reconcile net increase in net assets resulting from
                                   operations to net cash provided by (used for) operating activities:<BR></FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in interest receivable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(173,243</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(55,325</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(18,719,250</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(69,804</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(12,191</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in prepaid expenses</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(10,606</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(38,487</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(38,099</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,810</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Decrease in cash pledged as collateral for financial futures contracts</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(198,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in investment advisory fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17,775</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,028</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">790,191</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,946</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,142</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase (decrease) in interest expense and fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(427</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">745</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">77,290</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">289</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,697</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase (decrease) in other accrued expenses payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(27,555</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(51,233</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">210,540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,552</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11,127</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in variation margin payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14,063</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in offering costs payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">879,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 30px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase (decrease) in Officer&#146;s and Trustees&#146; fees payable</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,367</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,413</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">10,958</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">837</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,364</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain on investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(8,490,953</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,450,333</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(13,774,967</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(962,798</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,410,624</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Amortization of premium and accretion of discount on investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,075,124</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">264,141</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,630,231</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">69,472</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">229,715</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Amortization of deferred offering costs</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">36,238</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11,029</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23,042</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">27,184</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Proceeds from sales of long-term investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">74,217,653</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22,376,454</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,212,585</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,451,195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">41,159,277</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Purchases of long-term investments</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(87,998,398</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(25,444,279</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,506,696,562</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(12,733,958</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(42,996,038</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net proceeds from sales (purchases) of short-term securities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5,735,387</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">656,131</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(116,461,831</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,658,632</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,162,693</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash provided by (used for) operating activities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7,327,359</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">562,406</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,621,383,996</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(246,801</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,773,079</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
     Provided by (Used for) Financing Activities</B></FONT></TD>
     <TD ALIGN="LEFT" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></DIV></FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash receipts from issuance of common shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,680,608,500</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash receipts from issuance of VMTP Shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash receipts from issuance of RVMTP Shares</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">500,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash receipts from TOB trust certificates</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6,920,563</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,974,984</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">462,595,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3,733,211</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4,059,884</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash payments for TOB trust certificates</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(355,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash dividends paid to Common Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(14,407,254</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2,858,205</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(20,940,154</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(3,541,381</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(5,565,861</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash payments for offering costs</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(879,350</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Increase in bank overdraft</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">159,332</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">54,971</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">87,898</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash provided by (used for) financing activities</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(7,327,359</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(883,221</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2,621,383,996</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">246,801</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1,773,079</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash</B></FONT></TD>
     <TD ALIGN="LEFT" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></DIV></FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net change in cash</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(320,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash at beginning of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">320,815</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash at end of period</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Cash
     Flow Information</B></FONT></TD>
     <TD ALIGN="LEFT" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></DIV></FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Cash paid during the period for interest and fees</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,579,397</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">177,506</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">515,258</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">407,480</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">697,270</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD colspan="24" style="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Non-cash
     Financing Activities</B></FONT></TD>
     <TD ALIGN="LEFT" COLSPAN="3"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></DIV></FONT></TD>
     <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;</B></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Capital shares issued in reinvestment of dividends paid to Common Shareholders</FONT></DIV></FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">439,979</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">52,510</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">177,930</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">329,838</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">48</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 5 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 6 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
<TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
  <TR>
    <TD WIDTH="63%"></TD>
    <TD WIDTH="36%"></TD>
  </TR>
  <TR VALIGN=bottom>
    <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock California
Municipal Income Trust (BFZ)<BR>
      </FONT></B></TD>
  </TR>
</TABLE>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">

  <TR VALIGN="BOTTOM">
    <TD WIDTH="42%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months<BR>
    Ended<BR>
    January 31,<BR>
    2013<BR>
    (Unaudited)</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period<BR>
    November 1,<BR>
    2007 to<BR>
    July 31,<BR>
    2008</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended<BR>
    October 31,<BR>
    2007</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="42%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="42%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="15" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended July 31, <HR




               SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"> </B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD WIDTH="42%" NOWRAP ALIGN="CENTER"></TD>
    <TD WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2012</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2011</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2010</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2009</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER" WIDTH="1%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" COLSPAN=30><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV>
      </FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.32</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.88</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.28</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.98</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.97</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.74</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.45</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.95</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.98</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.00</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.03</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.82</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.08</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain (loss)</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.28</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.42</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.45</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.50</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.35</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.64</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.01</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.12</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.22</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.30</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase (decrease) from investment operations</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.73</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.36</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.51</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.48</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.44</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.30</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Common Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.47</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.92</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.91</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.91</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.83</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.69</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.58</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.32</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.88</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.28</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.98</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.97</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.98</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.64</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.16</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.21</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.40</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.99</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.82</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>3</SUP><BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" COLSPAN=30><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV>
      </FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.49</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">24.98</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.05</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">20.15</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.36</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.09</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.77</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.95</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34.40</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.86</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22.55</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4.81</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(7.29</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratios
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" COLSPAN=30><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV>
      </FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.62</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.49</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.46</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.36</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.54</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.25</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.61</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.46</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.39</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.27</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.35</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.98</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
                                 interest expense and fees<SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.00</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.07</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,8</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.12</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.04</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.08</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.91</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.42</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.28</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.19</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.94</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8.27</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.39</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.05</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.15</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.15</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.00</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.95</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.98</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.42%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.23</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.04</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.79</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.27</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.44</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" COLSPAN=30><DIV STYLE="MARGIN-LEFT: 6px;
TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></DIV>
      </FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">528,266</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">519,578</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">441,745</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">454,299</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">192,551</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">211,671</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">225,939</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">AMPS Shares outstanding at $25,000 liquidation preference, end of period
                                 (000)</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">171,325</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">171,325</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">71,000</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">100,900</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">131,950</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">VMTP Shares outstanding at $100,000 liquidation value, end of period
                                 (000)</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">171,300</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">171,300</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8%</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">30%</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">36%</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">47%</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">58%</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">26%</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">26%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per AMPS at $25,000 liquidation preference, end of period
                                 (000)</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,460</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">91,293</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">92,801</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">77,457</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">67,816</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="42%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per VMTP Shares at $100,000 liquidation value, end of
                                 period</FONT></DIV>
      </FONT></TD>
    <TD WIDTH="1%" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">408,406</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">403,314</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=1% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=2% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=3% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=1% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid' WIDTH="4%"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market value,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Do not reflect the effect of dividends to AMPS
Shareholders.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense, fees and amortization of offering
costs relate to TOBs. See Note 1 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs and VMTP shares,
respectively.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the year ended July 31, 2012, the total expense
ratio after fees waived and paid indirectly and excluding interest expense, fees, amortization of offering costs and remarketing fees was
1.04%.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">49<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 6 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 7 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
  <TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
    <TR>
      <TD WIDTH="63%"></TD>
      <TD WIDTH="36%"></TD>
    </TR>
    <TR VALIGN=bottom>
      <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock Florida
Municipal 2020 Term Trust (BFO)<BR>
        </FONT></B></TD>
    </TR>
  </TABLE>
</DIV>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">

  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months<BR>
    Ended<BR>
    January 31,<BR>
    2013<BR>
    (Unaudited)</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period<BR>
    January 1,<BR>
    2008 to<BR>
    July 31,<BR>
    2008</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended<BR>
    December 31,<BR>
    2007</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="15" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended July 31, <HR


         SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"> </B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2012</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2011</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2010</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2009</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.72</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.37</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.85</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.95</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.96</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.58</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain (loss)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.98</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.19</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.00</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.45</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to distributions to AMPS Shareholders from:<BR></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.15</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized gain</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase (decrease) from investment operations</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.34</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.81</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.70</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.23</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.19</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends and distributions to Common Shareholders from:<BR></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.34</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.70</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.36</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.61</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized gain</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total dividends and distributions to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.34</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.70</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.36</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.65</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.72</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.57</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.60</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.30</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.50</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>3</SUP><BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.44</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.48</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17.38</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.00</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.95</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.63</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratio
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses<SUP>5</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.29</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly<SUP>5</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
                                  interest expense and fees<SUP>5,7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,8</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>8</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income<SUP>5</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.52</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.48</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.29</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.72</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.74</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.63</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.19</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.40</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.36</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.50</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.82</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.56</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of<BR>
                                  period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,244</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,251</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">83,111</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">82,929</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">74,256</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">78,747</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">81,896</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">AMPS outstanding at $25,000 liquidation preference, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">26,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">42,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">42,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">42,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">42,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">42,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">48,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">32%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">9%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per AMPS at $25,000 liquidation preference, end of period
                                  (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">110,497</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;77,011</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;73,433</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;73,329</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;68,275</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;70,900</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;66,872</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
</DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends and distributions are determined in
accordance with federal income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market price,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Do not reflect the effect of dividends to AMPS
Shareholders.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense and fees relate to TOBs. See Note 1
and Note 7 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the six months ended January 31, 2013 and the
year ended July 31, 2012, total expense ratio after fees waived and excluding interest expense, fees, amortization of offering costs and remarketing
fees was 0.93% and 0.97%, respectively.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">50</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 7 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 8 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
  <TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
    <TR>
      <TD WIDTH="63%"></TD>
      <TD WIDTH="36%"></TD>
    </TR>
    <TR VALIGN=bottom>
      <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock Municipal
Income Investment Trust (BBF)<BR>
        </FONT></B></TD>
    </TR>
  </TABLE>
</DIV>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">

  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months<BR>
    Ended<BR>
    January 31,<BR>
    2013<BR>
    (Unaudited)</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period<BR>
    November 1,<BR>
    2007 to<BR>
    July 31,<BR>
    2008</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended<BR>
    October 31,<BR>
    2007</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD COLSPAN="15" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended July 31, <HR

     SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"> </B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2012</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2011</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2010</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2009</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.40</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.08</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.68</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.42</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.97</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.80</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain (loss)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.55</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.56</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.36</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.89</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.00</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>3</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase (decrease) from investment operations</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.64</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.41</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Common Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.43</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.66</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.40</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.08</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.74</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.68</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>4</SUP><BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">26.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.15</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.57</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>5</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.78</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.84</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">35.59</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;)%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">19.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.46</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(5.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.76</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratios
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.83</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.60</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.46</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.47</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.31</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.83</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.60</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.37</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.96</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
      interest expense, fees and amortization of offering costs<SUP>8</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.48</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,9</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.61</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7,9</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.33</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.96</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.89</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.84</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,7</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>7</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.96</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.87</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.68</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.30</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.98</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data<BR></B></FONT></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of<BR>
      period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">108,058</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">106,627</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">89,726</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">93,073</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">85,050</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,176</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">100,564</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">AMPS outstanding at $25,000 liquidation preference, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,250</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,250</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,250</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">49,550</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">57,550</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">VRDP Shares outstanding at $100,000 liquidation value, end of period
      (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,200</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">34,200</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">39%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">24%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">46%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">66%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per AMPS at $25,000 liquidation preference, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;90,493</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;92,938</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;87,082</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;72,521</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;68,688</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per VRDP Shares at $100,000 liquidation value, end of
      period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">415,958</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">411,775</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
</DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Amount is less than $(0.01) per share.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market value,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Do not reflect the effect of dividends to AMPS
Shareholders.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense, fees and amortization of offering
costs relate to TOBs and/or VRDP Shares. See Note 1 and Note 7 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs
and VRDP Shares, respectively.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>9</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the six months ended January 31, 2013 and the
year ended July 31, 2012, the total expense ratio after fees waived and paid indirectly and excluding interest expense, fees, amortization of offering
costs, liquidity and remarketing fees was 1.17% and 1.31%, respectively.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">51<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 8 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 9 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
  <TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
    <TR>
      <TD WIDTH="63%"></TD>
      <TD WIDTH="36%"></TD>
    </TR>
    <TR VALIGN=bottom>
      <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock Municipal
Target Term Trust (BTT)<BR>
        </FONT></B></TD>
    </TR>
  </TABLE>
</DIV>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
  <TR VALIGN="BOTTOM">

    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period</B><BR>
    <B>August 30,</B><BR>
    <B>2012<SUP>1</SUP> to</B><BR>
    <B>January 31,</B><BR>
    <B>2013</B><BR>
    <B>(Unaudited)</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="8" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income<SUP>3</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.23</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase from investment operations</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Common Shareholders from net investment income<SUP>4</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.40</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Capital charges with respect to the issuance of shares</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="8" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>5</SUP></FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value<SUP>6</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.54</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price<SUP>6</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.68</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="8" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratios
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses<SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.58</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly<SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.58</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
                                  interest expense, fees and amortization of offering costs<SUP>7,8</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.50</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income <SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="8" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1,682,314</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">RVMTP Shares outstanding at $5,000,000 liquidation value, end of period
                                  (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">500,000</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover<SUP>9</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per RVMTP Shares at $5,000,000 liquidation value, end
                                  of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">21,823,139</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TABLE>
</DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Commencement of operations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Net asset value, beginning of period, reflects a
deduction of $1.125 per share sales charge from the initial offering price of $25.00 per share.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">A portion of the dividends from net investment
income may be deemed a tax return of capital or net realized gain at fiscal year end.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market value,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense, fees and amortization of offering
costs relate to TOBs and/or RVMTP Shares. See Note 1 and Note 7 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs
and RVMTP Shares, respectively.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="5px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>9</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Amount rounds to less than 1%.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">52</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 9 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 10 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
  <TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
    <TR>
      <TD WIDTH="63%"></TD>
      <TD WIDTH="36%"></TD>
    </TR>
    <TR VALIGN=bottom>
      <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock New Jersey
Municipal Income Trust (BNJ)<BR>
        </FONT></B></TD>
    </TR>
  </TABLE>
</DIV>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">

  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
    <B>Ended</B><BR>
    <B>January 31,</B><BR>
    <B>2013</B><BR>
    <B>(Unaudited)</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period</B><BR>
    <B>November 1,</B><BR>
    <B>2007 to</B><BR>
    <B>July 31,</B><BR>
    <B>2008</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
    <B>October 31,</B><BR>
    <B>2007</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="15" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended July 31,</B> <HR

       SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"> </FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2012</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2011</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2010</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2009</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.38</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.78</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.15</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.44</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.95</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.98</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.89</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain (loss)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.32</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.54</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.38</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.24</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.74</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.24</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.30</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase (decrease) from investment operations</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.56</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.05</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.63</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.53</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.44</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.59</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Common Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.95</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.75</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.96</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.24</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.07</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.38</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.78</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.15</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.82</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.00</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>3</SUP></FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.37</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">22.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.74</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">20.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(4.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">33.30</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.85</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(6.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;)%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(2.89</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratios
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.77</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.47</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.23</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.38</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.24</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.77</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.46</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.24</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
                                  interest expense, fees and amortization of offering costs<SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.18</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,8</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.12</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.14</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.02</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.33</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.09</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.42</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.18</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMPS Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.08</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.23</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.33</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.19</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.98</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.32</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
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    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
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    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
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<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of<BR>
                                  period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">124,262</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">123,497</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">107,226</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">109,257</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">96,696</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">106,596</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">116,152</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">AMPS outstanding at $25,000 liquidation preference, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">59,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">59,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">59,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">60,475</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">63,800</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">VMTP Shares outstanding at $100,000 liquidation value, end of period
                                  (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">59,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">59,100</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">20%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">20%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">11%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">29%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per AMPS at $25,000 liquidation preference, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">70,358</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">71,218</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">65,905</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">69,083</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">70,528</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per VMTP Shares at $100,000 liquidation value, end of
                                  period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">310,257</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">308,962</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
</DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market value,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Do not reflect the effect of dividends to AMPS
Shareholders.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense, fees and amortization of offering
costs relate to TOBs and/or VMTP Shares. See Note 1 and Note 7 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs
and VMTP Shares, respectively.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the year ended July 31, 2012, the total expense
ratio after fees waived and paid indirectly and excluding interest expense, fees, amortization of offering costs and remarketing fees was
1.14%.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="frill" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">53<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 10 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_08-51807-financials PAGE POSITION: 11 -->
<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
  <TABLE STYLE="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" BORDER=0 CELLSPACING=0 CELLPADDING=0>
    <TR>
      <TD WIDTH="63%"></TD>
      <TD WIDTH="36%"></TD>
    </TR>
    <TR VALIGN=bottom>
      <TD ALIGN=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT COLOR=gray>Financial Highlights</FONT><FONT COLOR=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
      <TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT COLOR=gray>BlackRock New York
Municipal Income Trust (BNY)<BR>
        </FONT></B></TD>
    </TR>
  </TABLE>
</DIV>
<P ALIGN="LEFT">
<DIV STYLE="MARGIN-LEFT: 6px" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></DIV>
<P></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">

  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Six Months</B><BR>
    <B>Ended</B><BR>
    <B>January 31,</B><BR>
    <B>2013</B><BR>
    <B>(Unaudited)</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Period</B><BR>
    <B>November 1,</B><BR>
    <B>2007 to</B><BR>
    <B>July 31,</B><BR>
    <B>2008</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER" ROWSPAN="4"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended</B><BR>
    <B>October 31,</B><BR>
    <B>2007</B></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">
    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="15" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Year Ended July 31,</B> <HR

       SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"> </FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD WIDTH="100%" NOWRAP ALIGN="CENTER"></TD>
    <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2012</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2011</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2010</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD COLSPAN="3" NOWRAP ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>2009</B></FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Per
                                                                                          Share Operating Performance</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, beginning of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.53</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.87</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.43</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.93</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.04</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.06</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.86</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>1</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net realized and unrealized gain (loss)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.73</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.54</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5%><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.70</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to AMP Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.01</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.03</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.10</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.21</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net increase (decrease) from investment operations</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.54</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.65</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.59</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.55</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.52</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Common Shareholders from net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.45</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.99</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(0.90</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)<SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net asset value, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.53</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.87</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">12.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Market price, end of period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.82</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.73</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">14.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13.95</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">15.55</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total
                                                                                          Investment Return Applicable to Common
                                                                                          Shareholders<SUP>3</SUP></FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on net asset value</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.48%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">19.62</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">4.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">20.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(3.71</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%<SUP>4</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.64</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Based on market price</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">3.43%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">25.87</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.94</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(1.44</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">2.87%<SUP>4</SUP></FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">(5.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">)%&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
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    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Ratios
                                                                                          to Average Net Assets Applicable to
                                                                                          Common Shareholders</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.83</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.43</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,
    6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.82</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.49</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.27</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.16</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.25</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.00</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,
    6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Total expenses after fees waived and paid indirectly and excluding
                                  interest expense, fees and amortization of offering costs<SUP>7</SUP></FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.18</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6,
    8</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.11</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.13</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.97</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,
    6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.92</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.43</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.34</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.35</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.50</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP>&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">8.67</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.79</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5,
    6</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.23</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>6</SUP></FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Dividends to Preferred Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.08</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.20</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.22</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.17</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.91</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">1.84</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net investment income to Common Shareholders</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.43</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">6.26</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.15</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.28</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">7.50</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.88</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%<SUP>5</SUP></FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5.39</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">%&nbsp;&nbsp;</FONT></TD>
  </TR>
    <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: right">&nbsp;</TD>
    <TD STYLE="text-align: right">&nbsp;</TD>
    <TD NOWRAP STYLE="text-align: left">&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">

    <TD COLSPAN="30" STYLE="text-align: left; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt; font-family: Arial, Helvetica, Sans-Serif"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT: -6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Supplemental
                                                                                          Data</FONT><BR></B></DIV>
      </FONT></B></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Net assets applicable to Common Shareholders, end of<BR>
                                  period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">201,465</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">200,020</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">177,993</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">182,372</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">161,727</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">175,927</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">190,962</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">AMPS outstanding at $25,000 liquidation preference, end of period (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,500</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,500</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,500</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">95,850</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">109,750</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">VMTP Shares outstanding at $100,000 liquidation value, end of period
                                  (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,500</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">94,500</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Portfolio turnover</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">13%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">24%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">17%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">16%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">18%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">5%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">23%</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per AMPS at $25,000 liquidation preference, end of period
                                  (000)</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">72,089</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">73,248</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">67,787</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">70,892</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">68,509</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
  </TR>
  <TR VALIGN="BOTTOM">

    <TD ALIGN="LEFT" WIDTH="100%"><DIV STYLE="MARGIN-LEFT: 6px; TEXT-INDENT:
-6px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">Asset coverage per VMTP Shares at $100,000 liquidation value, end of
                                  period</FONT></DIV>
      </FONT></TD>
    <TD ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">313,191</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">311,661</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
    <TD WIDTH=5% ALIGN="RIGHT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
    <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
    <TD WIDTH=5% ALIGN="LEFT" NOWRAP STYLE='border-bottom: Black 2px solid'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TABLE>
</DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Based on average Common Shares
outstanding.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Dividends are determined in accordance with federal
income tax regulations.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>3</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Total investment returns based on market price,
which can be significantly greater or lesser than the net asset value, may result in substantially different returns. Where applicable, total
investment returns exclude the effects of any sales charges and include the reinvestment of dividends and distributions.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>4</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Aggregate total investment return.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>5</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Annualized.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>6</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Do not reflect the effect of dividends to AMPS
Shareholders.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>7</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">Interest expense, fees and amortization of offering
costs relate to TOBs and/or VRDP Shares. See Note 1 and Note 7 of the Notes to Financial Statements for details of municipal bonds transferred to TOBs
and VRDP Shares, respectively.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt"><SUP>8</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 8pt">For the year ended July 31, 2012, the total expense
ratio after fees waived and paid indirectly and excluding interest expense, fees, amortization of offering costs and remarketing fees was
1.13%.</FONT></TD>
</TR>
</TABLE>
<!-- agabop mode="ep" last-style="finhi_footnote" -->
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">See Notes to Financial Statements.<BR></FONT></DIV></P>
<DIV STYLE="margin-top: 6pt; margin-bottom: 6pt; border-top: Black 1px solid">
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">54</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
<!-- END DIVISION: DIV_08-51807-financials PAGE POSITION: 11 -->
<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
<!-- agabop mode="main" last-style="finhi_footnote" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT STYLE="color: gray">Notes to Financial Statements <FONT STYLE="font-size: 10pt">(Unaudited)&nbsp;&nbsp;</FONT></FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>1. Organization and Significant Accounting
Policies:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock California Municipal Income Trust (&#147;BFZ&#148;),
BlackRock Municipal Income Investment Trust (&#147;BBF&#148;), BlackRock New Jersey Municipal Income Trust (&#147;BNJ&#148;), BlackRock New York
Municipal Income Trust (&#147;BNY&#148;), BlackRock Municipal Target Term Trust (&#147;BTT&#148;) (collectively, the &#147;Income Trusts&#148;) and
BlackRock Florida Municipal 2020 Term Trust (&#147;BFO&#148;) are organized as Delaware statutory trusts. The Income Trusts and BFO are referred to
herein collectively as the &#147;Trusts.&#148; The Trusts are registered under the 1940 Act as non-diversified, closed-end management investment
companies. Prior to commencement of operations on August 30, 2012, BTT had no operations other than those relating to organizational matters and the
sale of 5,571 Common Shares on August 16, 2011 to BlackRock Holdco 2, Inc., an affiliate of BTT, for $133,008. Investment operations for BTT commenced
on August 30, 2012. The Trusts&#146; financial statements are prepared in conformity with accounting principles generally accepted in the United States
of America (&#147;US GAAP&#148;), which may require management to make estimates and assumptions that affect the reported amounts of assets and
liabilities in the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period.
Actual results could differ from those estimates. The Board of Directors and the Board of Trustees of the Trusts are collectively referred to
throughout this report as the &#147;Board of Trustees&#148; or the &#147;Board&#148;, and the directors/trustees thereof are collectively referred to
throughout this report as &#147;Trustees.&#148; The Trusts determine, and make available for publication the NAV of their Common Shares on a daily
basis.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The following is a summary of significant accounting policies
followed by the Trusts:</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Valuation</B>: US GAAP defines fair value as the price the
Trusts would receive to sell an asset or pay to transfer a liability in an orderly transaction between market participants at the measurement date. The
Trusts determine the fair values of their financial instruments at market value using independent dealers or pricing services under policies approved
annually by the Board of the Trusts. The BlackRock Global Valuation Methodologies Committee (the &#147;Global Valuation Committee&#148;) is the
committee formed by management to develop global pricing policies and procedures and to provide oversight of the pricing function for the Trusts for
all financial instruments.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Municipal investments (including commitments to purchase such
investments on a &#147;when-issued&#148; basis) are valued on the basis of prices provided by dealers or pricing services. In determining the value of
a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers,
pricing matrixes, market transactions in comparable investments and information with respect to various relationships between investments. Financial
futures contracts traded on exchanges are valued at their last sale price. Investments in open-end registered investment companies are valued at NAV
each business day. Short-term securities with remaining maturities of 60 days or less may be valued at amortized cost, which approximates fair
value.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In the event that application of these methods of valuation
results in a price for an investment that is deemed not to be representative of the market value of such investment, or if a price is not available,
the investment will be valued by the Global Valuation Committee, or its delegate, in accordance with a policy approved by the Board as reflecting fair
value (&#147;Fair Value Assets&#148;). When determining the price for Fair Value Assets, the Global Valuation Committee, or its delegate, seeks to
determine the price that each Trust might reasonably expect to receive from the current sale of that asset in an arm&#146;s-length transaction. Fair
value determinations shall be based upon all available factors that the Global Valuation Committee, or its delegate, deems relevant consistent with the
principles of fair value measurement, which include the market approach, income approach and/or, in the case of recent investments, the cost approach,
as appropriate. A market approach generally consists of using comparable market transactions. The income approach generally is used to discount future
cash flows to present value and adjusted for liquidity as appropriate. These factors include but are not limited to: (i) attributes specific to the
investment or asset; (ii) the principal market for the investment or asset; (iii) the customary participants in the principal market for the investment
or asset; (iv) data assumptions by market participants for the investment or asset, if reasonably available; (v) quoted prices for similar investments
or assets in active markets; and (vi) other factors, such as future cash flows, interest rates, yield curves, volatilities, prepayment speeds, loss
severities, credit risks, recovery rates, liquidation amounts and/or default rates. Due to the inherent uncertainty of valuations of such investments,
the fair values may differ from the values that would have been used had an active market existed. The Global Valuation Committee, or its delegate,
employs various methods for calibrating valuation approaches for investments where an active market does not exist, including regular due diligence of
the Trusts&#146; pricing vendors, a regular review of key inputs and assumptions, transactional back-testing or disposition analysis to compare
unrealized gains and losses to realized gains and losses, reviews of missing or stale prices and large movements in market values and reviews of any
market related activity. The pricing of all Fair Value Assets is subsequently reported to the Board or a committee thereof on a quarterly
basis.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Zero-Coupon Bonds:</B> The Trusts may invest in zero-coupon
bonds, which are normally issued at a significant discount from face value and do not provide for periodic interest payments. Zero-coupon bonds may
experience greater volatility in market value than similar maturity debt obligations which provide for regular interest payments.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Forward Commitments and When-Issued Delayed Delivery
Securities:</B> The Trusts may purchase securities on a when-issued basis and may purchase or sell securities on a forward commitment basis. Settlement
of such transactions normally occurs within a month or more after the purchase or sale commitment is made. The Trusts may purchase securities under
such conditions with the intention of actually acquiring them, but may enter into a separate agreement to sell the securities before the settlement
date. Since the value of securities purchased may fluctuate prior to settlement, the Trusts may be required to pay more at settlement than the security
is worth. In addition, the Trusts are not entitled to any of the interest earned prior to settlement. When purchasing a security on a delayed delivery
basis, the Trusts assume the rights and risks of ownership of the security,</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">55<BR></TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><BR>including the risk of price and yield fluctuations. In the
event of default by the counterparty, the Trusts&#146; maximum amount of loss is the unrealized appreciation of unsettled when-issued transactions,
which is shown in the Schedules of Investments.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Municipal Bonds Transferred to TOBs:</B> The Trusts leverage
their assets through the use of TOBs. A TOB is a special purpose entity established by a third party sponsor, into which a fund, or an agent on behalf
of a fund, transfers municipal bonds into a trust (&#147;TOB Trust&#148;). Other funds managed by the investment advisor may also contribute municipal
bonds to a TOB into which a Trust has contributed bonds. A TOB typically issues two classes of beneficial interests: short-term floating rate
certificates (&#147;TOB Trust Certificates&#148;), which are sold to third party investors, and residual certificates (&#147;TOB Residuals&#148;),
which are generally issued to the participating funds that contributed the municipal bonds to the TOB Trust. If multiple funds participate in the same
TOB, the rights and obligations under the TOB Residual will be shared among the funds ratably in proportion to their participation.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The TOB Residuals held by a Trust include the right of a Trust (1)
to cause the holders of a proportional share of the TOB Trust Certificates to tender their certificates at par plus accrued interest upon the
occurrence of certain mandatory tender events defined in the TOB agreements, and (2) to transfer, subject to a specified number of days&#146; prior
notice, a corresponding share of the municipal bonds from the TOB to a Trust. The TOB may also be collapsed without the consent of a Trust, as the TOB
Residual holder, upon the occurrence of certain termination events as defined in the TOB agreements. Such termination events may include the bankruptcy
or default of the municipal bond, a substantial downgrade in credit quality of the municipal bond, the inability of the TOB to obtain renewal of the
liquidity support agreement, a substantial decline in market value of the municipal bond and a judgment or ruling that interest on the municipal bond
is subject to federal income taxation. Upon the occurrence of a Termination Event, the TOB would generally be liquidated in full with the proceeds
typically applied first to any accrued fees owed to the trustee, remarketing agent and liquidity provider, and then to the holders of the TOB Trust
Certificates up to par plus accrued interest owed on the TOB Trust Certificates, with the balance paid out to the TOB Residual holder. During the six
months ended January 31, 2013, no TOBs in which the Trusts participated were terminated without the consent of the Trusts.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The cash received by the TOB from the sale of the TOB Trust
Certificates, less transaction expenses, is paid to a Trust. The Trust typically invests the cash received in additional municipal bonds. Each
Trust&#146;s transfer of the municipal bonds to a TOB Trust is accounted for as a secured borrowing; therefore, the municipal bonds deposited into a
TOB are presented in the Trusts&#146; Schedules of Investments and the TOB Trust Certificates are shown in other liabilities in the Statements of
Assets and Liabilities. The carrying amount of the Trusts&#146; payable to the holder of the TOB Trust Certificates, as reported in Statements of
Assets and Liabilities as TOB Trust Certificates, approximates its fair value.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts may invest in TOBs on either a non-recourse or recourse
basis. TOB Trusts are typically supported by a liquidity facility provided by a bank or other financial institution (the &#147;Liquidity
Provider&#148;) that allows the holders of the TOB Trust Certificates to tender their certificates in exchange for payment from the Liquidity Provider
of par plus accrued interest on any business day prior to the occurrence of the termination events described above. When a Trust invests in TOBS on a
non-recourse basis, and the Liquidity Provider is required to make a payment under the liquidity facility due to a termination event, the Liquidity
Provider will typically liquidate all or a portion of the municipal securities held in the TOB Trust and then fund, on a net basis, the balance, if
any, of the amount owed under the liquidity facility over the liquidation proceeds (the &#147;Liquidation Shortfall&#148;). If a Trust invests in a TOB
on a recourse basis, the Trust will typically enter into a reimbursement agreement with the Liquidity Provider where the Trust is required to repay the
Liquidity Provider the amount of any Liquidation Shortfall. As a result, a Trust investing in a recourse TOB will bear the risk of loss with respect to
any Liquidation Shortfall. If multiple funds participate in any such TOB, these losses will be shared ratably in proportion to their participation. The
recourse TOB Trusts, if any, are identified in the Schedules of Investments.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Interest income, including amortization and accretion of premiums
and discounts, from the underlying municipal bonds is recorded by the Trusts on an accrual basis. Interest expense incurred on the secured borrowing
and other expenses related to remarketing, administration and trustee services to a TOB are shown as interest expense, fees and amortization of
offering costs in the Statements of Operations. The TOB Trust Certificates have interest rates that generally reset weekly and their holders have the
option to tender such certificates to the TOB for redemption at par at each reset date. At January 31, 2013, the aggregate value of the underlying
municipal bonds transferred to TOBs, the related liability for TOB Trust Certificates and the range of interest rates on the liability for TOB Trust
Certificates were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Underlying<BR> Municipal Bonds<BR>
Transferred to TOBS</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Liability for<BR> TOB Trust<BR>
Certificates</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Range of<BR> Interest
Rates</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">368,425,314</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">169,154,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">0.09% &#150; 0.19%</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">570,920</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">360,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">0.16%<BR></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">69,728,358</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">35,195,790</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">0.09% &#150; 0.35%</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">655,261,809</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">462,594,948</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">0.10% &#150; 0.17%</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27,484,189</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">14,366,757</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">0.10% &#150; 0.35%</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNY</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">74,108,937</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">36,551,462</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="LEFT" COLSPAN="3" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">0.09% &#150; 0.17%</DIV></FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For the six months ended January 31, 2013, the Trusts&#146;
average TOB Trust Certificates outstanding and the daily weighted average interest rate, including fees, were as follows:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Average TOB<BR> Trust
Certificates<BR>Outstanding</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Daily Weighted<BR>Average<BR>
Interest Rate</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 27.5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; width: 10%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">163,700,371</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 3%">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 7%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; width: 5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.71</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">380,924</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.59</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">33,785,678</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.75</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">120,414,480</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.93</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,969,732</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.76</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">34,608,579</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.76</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Should short-term interest rates rise, the Trusts&#146;
investments in TOBs may adversely affect the Trusts&#146; net investment income and dividends to Common Shareholders. Also, fluctuations in the market
value of municipal bonds deposited into the TOB may adversely affect the Trusts&#146; NAVs per share.</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">56</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Segregation and Collateralization:</B> In cases in which the
1940 Act and the interpretive positions of the Securities and Exchange Commission (&#147;SEC&#148;) require that the Trusts either deliver collateral
or segregate assets in connection with certain investments (e.g., TOBs and financial futures contracts), the Trusts will, consistent with SEC rules
and/or certain interpretive letters issued by the SEC, segregate collateral or designate on their 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. Furthermore, based on requirements and
agreements with certain exchanges and third party broker-dealers, each party to such transactions has requirements to deliver/deposit securities as
collateral for certain investments.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Investment Transactions and Investment Income:</B> For
financial reporting purposes, investment transactions are recorded on the dates the transactions are entered into (the trade dates). Realized gains and
losses on investment transactions are determined on the identified cost basis. Interest income, including amortization and accretion of premiums and
discounts on debt securities, is recognized on the accrual basis.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Dividends and Distributions:</B> Dividends from net investment
income are declared and paid monthly. Distributions of capital gains are recorded on the ex-dividend dates. The portion of distributions that exceeds a
Trust&#146;s current and accumulated earnings and profits, which are measured on a tax basis, will constitute a nontaxable return of capital.
Distributions in excess of a Trust&#146;s taxable income and net capital gains, but not in excess of a Trust&#146;s earnings and profits, will be
taxable to shareholders as ordinary income and will not constitute a nontaxable return of capital. The character and timing of dividends and
distributions are determined in accordance with federal income tax regulations, which may differ from US GAAP. Dividends and distributions to Preferred
Shareholders are accrued and determined as described in Note 7.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Income Taxes:</B> It is the Trusts&#146; policy to comply with
the requirements of the Internal Revenue Code of 1986, as amended, applicable to regulated investment companies and to distribute substantially all of
its taxable income to its shareholders. Therefore, no federal income tax provision is required.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Each Trust files US federal and various state and local tax
returns. No income tax returns are currently under examination. The statute of limitations on the Trusts&#146;, except BTT, US federal tax returns
remains open for each of the four years ended July 31, 2012. The statutes of limitations on each Trust&#146;s, except BTT, state and local tax returns
may remain open for an additional year depending upon the jurisdiction. Management does not believe there are any uncertain tax positions that require
recognition of a tax liability.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Recent Accounting Standards:</B> In December 2011, the
Financial Accounting Standards Board (the &#147;FASB&#148;) issued guidance that will expand current disclosure requirements on the offsetting of
certain assets and liabilities. The new disclosures will be required for investments and derivative financial instruments subject to master netting or
similar agreements, which are eligible for offset in the Statements of Assets and Liabilities and will require an entity to disclose both gross and net
information about such investments and transactions in the financial statements. In January 2013, the FASB issued guidance that clarifies which
investments and transactions are subject to the offsetting disclosure requirements. The scope of the disclosure requirements for offsetting will be
limited to derivative instruments, repurchase agreements and reverse repurchase agreements, and securities borrowing and securities lending
transactions. The guidance is effective for financial statements with fiscal years beginning on or after January 1, 2013, and interim periods within
those fiscal years. Management is evaluating the impact of this guidance on the Trusts&#146; financial statement disclosures.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Deferred Compensation Plan:</B> Under the Deferred Compensation
Plan (the &#147;Plan&#148;) approved by each Trust&#146;s Board, the independent Trustees (&#147;Independent Trustees&#148;) may 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 certain other BlackRock Closed-End Funds selected by the Independent Trustees. This has the same economic effect for the Independent Trustees
as if the Independent Trustees had invested the deferred amounts directly in certain other BlackRock Closed-End Funds.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The deferred compensation plan is not funded and obligations
thereunder represent general unsecured claims against the general assets of each Trust. Deferred compensation liabilities are included in
officer&#146;s and trustees&#146; fees payable in the Statements of Assets and Liabilities and will remain as a liability of the Trusts until such
amounts are distributed in accordance with the Plan.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Other:</B> Expenses directly related to a Trust are charged to
that Trust. Other operating expenses shared by several funds are pro rated among those funds on the basis of relative net assets or other appropriate
methods.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts have an arrangement with the custodian whereby fees may
be reduced by credits earned on uninvested cash balances, which, if applicable, are shown as fees paid indirectly in the Statements of Operations. The
custodian imposes fees on overdrawn cash balances, which can be offset by accumulated credits earned or may result in additional custody
charges.</FONT></DIV></P>
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<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">57<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>2. Derivative Financial Instruments:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts engage in various portfolio investment strategies using
derivative contracts both to increase the returns of the Trusts and/or to economically hedge, or protect, their exposure to certain risks such as
Interest rate risk. These contracts may be transacted on an exchange.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Losses may arise if the value of the contract decreases due to an
unfavorable change in the market rates or values of the underlying instrument or if the counterparty does not perform under the contract. The
Trusts&#146; maximum risk of loss from counterparty credit risk on OTC derivatives is generally the aggregate unrealized gain netted against any
collateral pledged by/posted to the counterparty. For OTC options purchased, the Trusts bear the risk of loss in the amount of the premiums paid plus
the positive change in market values net of any collateral received on the options should the counterparty fail to perform under the contracts.
Counterparty risk related to exchange-traded financial futures contracts and options is deemed to be minimal due to the protection against defaults
provided by the exchange on which these contracts trade.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Financial Futures Contracts:</B> The Trusts purchase or sell
financial futures contracts and options on financial futures contracts to gain exposure to, or economically hedge against, changes in interest rates
(interest rate risk). Financial futures contracts are agreements between the Trusts and a counterparty to buy or sell a specific quantity of an
underlying instrument at a specified price and at a specified date. Depending on the terms of the particular contract, financial futures contracts are
settled either through physical delivery of the underlying instrument on the settlement date or by payment of a cash settlement amount on the
settlement date. Pursuant to the contract, the Trusts agree to receive from or pay to the broker an amount of cash equal to the daily fluctuation in
value of the contract. Such receipts or payments are known as variation margin and are recorded by the Trusts as unrealized appreciation or
depreciation. When the contract is closed, the Trusts record a realized gain or loss equal to the difference between the value of the contract at the
time it was opened and the value at the time it was closed. The use of financial futures contracts involves the risk of an imperfect correlation in the
movements in the price of financial futures contracts, interest rates and the underlying assets.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Options</B>: The Trusts purchase and write call and put options
to increase or decrease their exposure to underlying instruments (including equity risk, interest rate risk and/or commodity price risk) and/or, in the
case of options written, to generate gains from options premiums. A call option gives the purchaser (holder) of the option the right (but not the
obligation) to buy, and obligates the seller (writer) to sell (when the option is exercised), the underlying instrument at the exercise or strike 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 instrument at the exercise or strike price at any time or at a specified time during the option period. When the Trusts purchase (write) an
option, an amount equal to the premium paid (received) by the Trusts is reflected as an asset (liability). The amount of the asset (liability) is
subsequently marked-to-market to reflect the current market value of the option purchased (written).When an instrument is purchased or sold through an
exercise of an option, the related premium paid (or received) is added to (or deducted from) the basis of the instrument acquired or deducted from (or
added to) the proceeds of the instrument sold. When an option expires (or the Trusts enter into a closing transaction), the Trusts realize a gain or
loss on the option to the extent of the premiums received or paid (or gain or loss to the extent the cost of the closing transaction exceeds the
premiums received or paid). When the Trusts write a call option, such option is &#147;covered,&#148; meaning that the Trusts hold the underlying
instrument subject to being called by the option counterparty. When the Trusts write a put option, such option is covered by cash in an amount
sufficient to cover the obligation.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In purchasing and writing options, the Trusts bear the risk of an
unfavorable change in the value of the underlying instrument or the risk that the Trusts may not be able to enter into a closing transaction due to an
illiquid market. Exercise of a written option could result in the Trusts purchasing or selling a security at a price different from the current market
value. </FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">&nbsp;&nbsp;</FONT></DIV></P>
<P STYLE="text-align: left; margin-bottom: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><B>Derivative Financial Instruments Categorized by Risk
Exposure:</B></FONT></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD COLSPAN="12" NOWRAP STYLE="width: 60%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Fair Values of Derivative
Financial Instruments as of January 31, 2013</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="60%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Asset Derivatives</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="60%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=7 nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BFZ</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="60%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Statements of Assets<BR> and
Liabilites Location</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Value</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Interest rate contracts:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Financial futures contracts</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net unrealized appreciation<SUP>1</SUP></DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">
150,929</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN=7 style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;<DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Liability Derivatives</B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN=7 style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;<DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>BNY<BR></B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Statements of Assets<BR> and Liabilites Location</B></DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><B>Value<BR></B></DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Interest rate contracts:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Financial futures contracts</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net unrealized depreciation<SUP>1</SUP></DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> (6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Includes cumulative appreciation/depreciation on financial futures
contracts as reported in the Schedules of Investments. Only current day&#146;s variation margin is reported within the Statements of Assets and
Liabilities.</FONT></TD>
</TR>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">58</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE BORDER="0" CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Arial; margin-bottom: 6pt">
<TR>
<TD STYLE="width: 63%"></TD>
<TD STYLE="width: 36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="border-top: Black 1pt solid; width: 60%; text-align: center; padding-top: 6pt"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>The Effect of Derivative
Financial Instruments in the Statements of Operations<BR> Six Months Ended January 31, 2013</B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
</TABLE>

<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD COLSPAN="5" STYLE="text-align: center"><FONT STYLE="font: 9pt Arial, Helvetica, sans-serif"><B>Net Realized Loss From</B></FONT><HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="color: #000000"></TD></TR>
<TR STYLE="vertical-align: bottom">
     <TD STYLE="text-align: left">&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BFZ</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
<TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
<TD COLSPAN="3" STYLE="text-align: center"><FONT STYLE="font: 9pt Arial, Helvetica, sans-serif"><B>BNY</B><HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="color: #000000"></FONT></TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Interest rate contracts:<BR></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Financial futures contracts</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD STYLE="text-align: center"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$133,691</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Options<SUP>1</SUP></DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#151;</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;(65,302</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; margin-top: 6pt; margin-bottom: 6pt">
<TR VALIGN="TOP">
     <TD NOWRAP STYLE="width: (Error: Units Not Appropriate); text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD STYLE="width: (Error: Units Not Appropriate); text-align: left">&nbsp;</TD>
     <TD STYLE="width: 98%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Options purchased are included in the net realized gain (loss)
from investments and net change in unrealized appreciation/depreciation on investments.</FONT></TD>
</TR>
</TABLE>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 60%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="7" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Net Change in Unrealized<BR>
Appreciation/Depreciation on</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="60%" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B></FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BFZ</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BNY</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Interest rate contracts:<BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="60%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Financial futures contracts</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;$&nbsp;&nbsp;150,629</DIV></FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;(6,947</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">For the six months ended January 31, 2013, the average quarterly
balances of outstanding derivative financial instruments were as follows:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>&nbsp;</B></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;</FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BFZ</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BNY</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 60%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Financial futures contracts:<BR></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD STYLE="width: 5%">&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Average number of contracts sold</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">13</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Average notional value of contracts sold</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">$9,846,094</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,865,094</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Options contracts:<BR></DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD>&nbsp;&nbsp;&nbsp;&nbsp;</TD></TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 20px; TEXT-INDENT:
-10px">Average number of contracts purchased</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&#151;</DIV></FONT></TD>
     <TD>&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 20px; TEXT-INDENT: -10px">Average notional value of contracts purchased</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;</TD>
     <TD ALIGN="CENTER" COLSPAN="3" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&#151;</DIV></FONT></TD>
     <TD STYLE="border-bottom: windowtext 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</SUP></FONT></TD>
     <TD STYLE="text-align: right; border-bottom: windowtext 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">206,500</FONT></TD>
     <TD NOWRAP STYLE="border-bottom: windowtext 1pt solid; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt"><SUP>2</SUP>&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Actual contract amounts shown due to limited activity.
</FONT></TD>
</TR>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>3. Investment Advisory Agreement and Other Transactions with
Affiliates:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The PNC Financial Services Group, Inc. (&#147;PNC&#148;) is the
largest stockholder and an affiliate, for 1940 Act purposes of BlackRock, Inc. (&#147;BlackRock&#148;).</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">Each Trust entered into an Investment Advisory Agreement with
BlackRock Advisors, LLC (the &#147;Manager&#148;), the Trusts&#146; investment advisor, an indirect, wholly owned subsidiary of BlackRock, to provide
investment advisory and administration services. The Manager is responsible for the management of each Trust&#146;s portfolio and provides the
necessary personnel, facilities, equipment and certain other services necessary to the operations of each Trust. For such services, each Trust pays the
Manager a monthly fee based on a percentage of each Trust&#146;s average weekly net assets except for BTT, which is based on average daily net assets,
at the following annual rates:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.58</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.50</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.60</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.40</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.60</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.60</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Average weekly net assets and average daily net assets are the
average weekly or the average daily value of each Trust&#146;s total assets minus the sum of its accrued liabilities.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Manager contractually agreed to waive a portion of the
investment advisory fee on BFZ at an annual rate of 0.01% through December 31, 2012. For the six months ended January 31, 2013, the Manager waived
$35,992, which is included in fees waived by advisor in the Statements of Operations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The Manager voluntarily agreed to waive its investment advisory
fees by the amount of investment advisory fees each Trust pays to the Manager indirectly through its investment in affiliated money market funds.
However, the Manager does not waive its investment advisory fees by the amount of investment advisory fees paid in connection with each Trust&#146;s
investment in other affiliated investment companies, if any. These amounts are included in fees waived by Manager in the Statements of Operations. For
the six months ended January 31, 2013, the amounts waived were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,107</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">778</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">479</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,627</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,705</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,133</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For BFZ, BFO, BBF, BNJ and BNY, the Manager entered into a
sub-advisory agreement with BlackRock Financial Management, Inc. (&#147;BFM&#148;), an affiliate of the Manager. For BTT the Manager entered into a
sub-advisory agreement with BlackRock Investment Management, LLC (&#147;BIM&#148;), an affiliate of the Manager. The Manager pays BFM and BIM for
services it provides, a monthly fee that is a percentage of the investment advisory fees paid by each Trust to the Manager.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Certain officers and/or Trustees of the Trusts are officers and/or
directors of BlackRock or its affiliates. The Trusts reimburse the Manager for a portion of the compensation paid to the Trusts&#146; Chief Compliance
Officer.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>4. Investments:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Purchases and sales of investments, excluding short-term
securities, for the six months ended January 31, 2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>&nbsp;</B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Purchases</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Sales</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">80,037,548</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">69,341,189</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">8,564,823</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">24,972,681</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,704,055</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">21,402,607</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,666,352,073</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,508,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,733,958</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7,451,195</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">44,437,036</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">43,210,853</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 9pt Arial, Helvetica, Sans-Serif">
<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">59<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100% font: 10pt Times
New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
<!-- BEGIN DIVISION: DIV_09-51807-notes PAGE POSITION: 6 -->
<DIV align=left>
<!-- agabop mode="main" last-style="h2" -->
<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
<TR>
<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>5. Income Tax Information:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">As of July 31, 2012, the Trusts had capital loss carryforwards
available to offset future realized capital gains through the indicated expiration dates as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: left; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Expires July 31,<BR></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT"
></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BFZ</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BFO</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BBF</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BNJ</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>BNY</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">2014</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 1,681,553</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 0px; text-indent: 0px">2015</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">465,742</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">385,737</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">592,744</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 0px; text-indent: 0px">2016</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">186,028</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">866,417</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">15,502</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">505,354</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 0px; text-indent: 0px">2017</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,782,470</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">394,297</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,599,716</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 0px; text-indent: 0px">2018</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12,894,572</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">62,100</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">6,858,066</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,390,524</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,480,575</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="margin-left: 0px; text-indent: 0px">2019</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">651,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">27,464</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,982,931</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">No
expiration date<SUP>1</SUP></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">3,514,455</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">229,851</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">406,587</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px"><B>Total</B><BR></DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;22,524,820</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;456,397</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;8,761,684</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;2,256,085</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;6,975,163</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><SUP>1</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">Must be utilized prior to losses subject to
expiration.</FONT></TD>
</TR>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">As of January 31, 2013, gross unrealized appreciation and gross
unrealized depreciation based on cost for federal income tax purposes were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BFZ</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BFO</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BBF</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BTT</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BNJ</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>BNY</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" COLSPAN=28><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px;
TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Tax
cost</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">600,535,744</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">108,697,228</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 121,019,204</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">
2,317,184,567</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 166,433,297</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 273,410,477</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Gross unrealized appreciation</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 95,349,060</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 6,986,168</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 20,436,221</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 28,243,150</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 17,552,786</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 23,285,865</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">Gross unrealized depreciation</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">(78,436</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(1,204,015</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(812,331</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(14,439,539</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(1,831,443</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">(1,587,734</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">)&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">Net
unrealized appreciation</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">95,270,624</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 5,782,153</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 19,623,890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 13,803,611</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 15,721,343</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% STYLE='border-bottom: Black 2px solid'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"> 21,698,131</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap STYLE='border-bottom: Black 2px solid'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>6. Concentration, Market and Credit Risk:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BFZ, BFO, BNJ and BNY invest a substantial amount of their assets
in issuers located in a single state or limited number of states. Please see the Schedules of Investments for concentrations in specific
states.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Many municipalities insure repayment of their bonds, which may
reduce the potential for loss due to credit risk. The market value of these bonds may fluctuate for other reasons, including market perception of the
value of such insurance, and there is no guarantee that the insurer will meet it obligation.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In the normal course of business, the Trusts invest in securities
and enter into transactions where risks exist due to fluctuations in the market (market risk) or failure of the issuer of a security to meet all its
obligations (issuer credit risk). The value of securities held by the Trusts may decline in response to certain events, including those directly
involving the issuers whose securities are owned by the Trusts; conditions affecting the general economy; overall market changes; local, regional or
global political, social or economic instability; and currency and interest rate and price fluctuations. Similar to issuer credit risk, the Trusts may
be exposed to counterparty credit risk, or the risk that an entity with which the Trusts have unsettled or open transactions may fail to or be unable
to perform on its commitments. The Trusts manage counterparty credit risk by entering into transactions only with counterparties that they believe have
the financial resources to honor their obligations and by monitoring the financial stability of those counterparties. Financial assets, which
potentially expose the Trusts to market, issuer and counterparty credit risks, consist principally of financial instruments and receivables due from
counterparties. The extent of the Trusts&#146; exposure to market, issuer and counterparty credit risks with respect to these financial assets is
generally approximated by their value recorded in the Trusts&#146; Statements of Assets and Liabilities, less any collateral held by the
Trusts.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">As of January 31, 2013, BFZ invested a significant portion of its
assets in securities in the County/City/Special District/School District and Utilities sectors. BFO, BBF and BNY invested a significant portion of
their assets in securities in the County/City/Special District/School District sector. BNJ invested a significant portion of its assets in securities
in the State and Transportation sectors. BTT invested a significant portion of its assets in securities in the County/City/Special District/School
District and Transportation sectors. Changes in economic conditions affecting the County/City/Special District/School District, State, Utilities and
Transportation sectors would have a greater impact on the Trusts and could affect the value, income and/or liquidity of positions in such
securities.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts may hold a significant amount of bonds subject to calls
by the issuers at defined dates and prices. When bonds are called by issuers and the Trusts reinvest the proceeds received, such investments may be in
securities with lower yields than the bonds originally held, and correspondingly, could adversely impact the yield and total return performance of a
Trust.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>7. Capital Share Transactions:</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Each Trust is authorized to issue an unlimited number of shares,
all of which were initially classified as Common Shares. The par value for each Trust&#146;s Common Shares is $0.001. Each Trust&#146;s Board is
authorized, however, to reclassify any unissued shares without approval of Common Shareholders. At January 31, 2013, Common Shares of BTT owned by
affiliates of the Manager were 5,571 shares.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Upon commencement of operations, organization costs associated
with the establishment of the BTT were expensed by BTT. Offering costs incurred in connection with BTT&#146;s offering of Common Shares have been
charged against the proceeds from the initial Common Share offering in the amount of $2,612,000.</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">60</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
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<DIV align=left>
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<TD width="36%"></TD></TR>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Common Shares</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">For the periods shown, shares issued and outstanding increased by the following amounts as a result of dividend
reinvestment:</FONT></DIV></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Six Months<BR> Ended<BR> January 31,
2013</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Year Ended<BR> July 31,
2012</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">26,524</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,886</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,273</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4,149</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">10,564</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">19,942</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">20,862</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">48,391</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Shares issued and outstanding remained constant for BFO for the
six months ended January 31, 2013 and for the year ended July 31, 2012. For BTT shares issued and outstanding for the period August 30, 2012 to January
31, 2013, increased by 62,000,000 from the initial public offering and 8,500,000 from the underwriters&#146; exercising the over-allotment
option.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Preferred Shares</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT">The Trusts&#146; Preferred Shares rank prior to the Trusts&#146; Common Shares as to the payment of dividends by the Trusts and
distribution of assets upon dissolution or liquidation of the Trusts. The 1940 Act prohibits the declaration of any dividend on the Trusts&#146; Common
Shares or the repurchase of the Trusts&#146; Common Shares if the Trusts fail to maintain the asset coverage of at least 200% of the liquidation
preference of the outstanding Preferred Shares. In addition, pursuant to the Preferred Shares&#146; governing instruments, the Trusts are restricted
from declaring and paying dividends on classes of shares ranking junior to or on parity with the Preferred Shares or repurchasing such shares if the
Trusts fail to declare and pay dividends on the Preferred Shares, redeem any Preferred Shares required to be redeemed under the Preferred Shares
governing instruments or comply with the basic maintenance amount requirement of the rating agencies then rating the Preferred
Shares.</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">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 (one vote per share) as a single class. However, the
holders of Preferred Shares, voting as a separate class, are also entitled to elect two Trustees for each Trust. In addition, the 1940 Act 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 or (c) change its
business so as to cease to be an investment company.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>VRDP Shares</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT">BBF has issued Series W-7 VRDP Shares, $100,000 liquidation value per share, in a privately negotiated offering. The VRDP Shares were
offered to qualified institutional buyers as defined pursuant to Rule 144A under the Securities Act of 1933, as amended, (the &#147;Securities
Act&#148;) and include a liquidity feature, pursuant to a liquidity agreement, that allows the holders of VRDP Shares to have their shares purchased by
the liquidity provider in the event of a failed remarketing. BBF is required to redeem the VRDP Shares owned by the liquidity provider after six months
of continuous, unsuccessful remarketing. Upon the occurrence of the first unsuccessful remarketing, BBF is required to segregate liquid assets to fund
the redemption. The VRDP Shares are subject to certain restrictions on transfer.</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The VRDP Shares outstanding as of the six months ended January 31,
2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Issue<BR> Date</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Shares<BR> Issued</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Aggregate<BR> Principal</B></B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Maturity<BR> Date</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BBF</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">9/15/11</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">342</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">34,200,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10/01/41</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BBF has entered into a fee agreement with the liquidity provider
that required a per annum liquidity fee to be paid to the liquidity provider. These fees are shown as liquidity fees in the Statements of
Operations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The initial fee agreement between BBF and the liquidity provider
was for a 364 day term and was scheduled to expire on September 15, 2012 and subsequently extended until March 15, 2013, unless renewed or terminated
in advance. On November 29, 2012, BBF entered into a new fee agreement with an alternate liquidity provider. The new fee agreement is for a 2 year term
and is scheduled to expire on December 4, 2014, unless renewed or terminated in advance. The change in liquidity provider resulted in a mandatory
tender of BBF&#146;s VRDP Shares on November 28, 2012 which were successfully remarketed by the remarketing agent.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In the event the fee agreement is terminated in advance, and BBF
does not enter into a fee agreement with an alternate liquidity provider, the VRDP Shares will be subject to mandatory purchase by the liquidity
provider prior to the termination of the fee agreement. BBF is required to redeem any VRDP Shares purchased by the liquidity provider six months after
the purchase date. Immediately after the purchase of any VRDP Shares by the liquidity provider, BBF is required to begin to segregate liquid assets
with BBF&#146;s custodian to fund the redemption. There is no assurance BBF will replace such redeemed VRDP Shares with any other preferred shares or
other form of leverage.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BBF is required to redeem its VRDP Shares on the maturity date,
unless earlier redeemed or repurchased. Six months prior to the maturity date, BBF is required to begin to segregate liquid assets with the BBF&#146;s
custodian to fund the redemption. In addition, BBF is required to redeem certain of its outstanding VRDP Shares if it fails to maintain certain asset
coverage, basic maintenance amount or leverage requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Subject to certain conditions, VRDP Shares may be redeemed, in
whole or in part, at any time at the option of BBF. The redemption price per VRDP Share is equal to the liquidation value per share plus any
outstanding unpaid dividends. In the event of an optional redemption of VRDP Shares prior to the initial termination date of the fee agreement, BBF
must pay the liquidity provider fees on such redeemed VRDP Shares for the remaining term of the fee agreement up to the initial termination
date.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Dividends on the VRDP Shares are payable monthly at a variable
rate set weekly by the remarketing agent. Such dividend rates are generally based upon a spread over a base rate and cannot exceed a maximum rate. In
the event of a failed remarketing, the dividend rate of the VRDP Shares will be reset to a maximum rate. The maximum rate is determined based
on,</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">61<BR></TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><BR>among other things, the long-term preferred share rating
assigned to the VRDP Shares and the length of time that the VRDP Shares fail to be remarketed. At the date of issuance, the VRDP Shares were assigned a
long-term rating of Aaa from Moody&#146;s and AAA from Fitch. In May 2012, Moody&#146;s completed the review of its methodology for rating securities
issued by registered closed-end funds. As of January 31, 2013, the VRDP Shares were assigned a long-term rating of Aa1 from Moody&#146;s under its new
ratings methodology. The VRDP Shares continue to be assigned a long-term rating of AAA from Fitch.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The short-term ratings on the VRDP Shares are directly related to the short-term ratings of the
                                                                   liquidity provider for such VRDP Shares. Changes in the credit quality of the liquidity provider could cause a change in the
                                                                   short-term credit ratings of the VRDP Shares as rated by Moody&#146;s, Fitch and S&amp;P. A change in the short-term credit
                                                                   rating of the liquidity provider or the VRDP Shares may adversely affect the dividend rate paid on such shares, although the
                                                                   dividend rate paid on the VRDP Shares is not directly related based upon either short-term rating. As of January 31, 2013,
                                                                   the short-term ratings of the liquidity provider and the VRDP Shares for BBF were P-2, F1 and A1 as rated by Moody&#146;s,
                                                                   Fitch and/or S&amp;P, respectively, which is within the two highest rating categories. The liquidity provider may be
                                                                   terminated prior to the scheduled termination date if the liquidity provider fails to maintain short-term debt ratings in
                                                                   one of the two highest rating categories.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For financial reporting purposes, VRDP Shares are considered debt
of the issuer; therefore, the liquidation value, which approximates fair value, of VRDP Shares is recorded as a liability in the Statements of Assets
and Liabilities. Unpaid dividends are included in interest expense and fees payable in the Statements of Assets and Liabilities, and the dividends
accrued and paid on the VRDP Shares are included as a component of interest expense, fees and amortization of offering costs in the Statements of
Operations. VRDP Shares are treated as equity for tax purposes. Dividends paid to holders of VRDP Shares are generally classified as tax-exempt income
for tax-reporting purposes.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BBF may incur remarketing fees of 0.10% on the aggregate principal
amount of all VRDP Shares, which, if any, are included in remarketing fees on Preferred Shares in the Statements of Operations. All of the BBF&#146;s
VRDP Shares have successfully remarketed since issuance, with an annualized dividend rate of 0.16% for the six months ended January 31,
2013.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">VRDP Shares issued and outstanding for BBF remained constant for
the six months ended January 31, 2013.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>VMTP Shares</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT">BFZ, BNJ and BNY (collectively, the &#147;VMTP Funds&#148;) have issued Series W-7 VMTP Shares, $100,000 liquidation value per share, in a
privately negotiated offering and sale of VMTP Shares exempt from registration under the Securities Act.</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The VMTP Shares outstanding as of the six months ended January 31,
2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Issue<BR> Date</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Shares<BR> Issued</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Aggregate<BR> Principal</B></B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Term<BR> Date</B></B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3/22/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,713</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">171,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/01/15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3/22/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">591</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/01/15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNY</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3/22/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">945</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">94,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/01/15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The VMTP Funds are required to redeem their VMTP Shares on the
term date, unless earlier redeemed or repurchased or unless extended. There is no assurance that the term of the Trusts&#146; VMTP Shares will be
extended or that the Trusts&#146; VMTP Shares will be replaced with any other preferred shares or other form of leverage upon the redemption or
repurchase of the VMTP Shares. Six months prior to term date, the VMTP Funds are required to begin to segregate liquid assets with the Trusts&#146;
custodian to fund the redemption. In addition, the Trusts are required to redeem certain of its outstanding VMTP Shares if it fails to maintain certain
asset coverage, basic maintenance amount or leverage requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Subject to certain conditions, the Trusts&#146; VMTP Shares may be
redeemed, in whole or in part, at any time at the option of the Trusts. The redemption price per VMTP Share is equal to the liquidation value per share
plus any outstanding unpaid dividends and applicable redemption premium. If the Trusts redeem the VMTP Shares on a date that is one year or more prior
to the term date and the VMTP Shares are rated above A1/A+ by Moody&#146;s and Fitch, respectively, then such redemption is subject to a prescribed
redemption premium based on the time remaining to the term date, subject to certain exceptions for redemptions that are required to maintain minimum
asset coverage requirements. The VMTP Shares are subject to certain restrictions on transfer, and the Trusts may also be required to register the VMTP
Shares for sale under the Securities Act under certain circumstances. In addition, amendments to the VMTP governing document generally require the
consent of the holders of VMTP Shares.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Dividends on the VMTP Shares are payable monthly at a variable
rate set weekly at a fixed rate spread to the SIFMA Municipal Swap Index. The fixed spread is determined based on the long-term preferred share rating
assigned to the VMTP Shares by Moody&#146;s and Fitch. At the date of issuance, the VMTP Shares were assigned long-term ratings of Aaa from
Moody&#146;s and AAA from Fitch. In May 2012, Moody&#146;s completed the review of its methodology for rating securities issued by registered
closed-end funds. As of January 31, 2013, the VMTP Shares were assigned a long-term rating of Aa2 from Moody&#146;s under its new rating methodology.
The VMTP Shares continue to be assigned a long-term rating of AAA from Fitch. The dividend rate on the VMTP Shares is subject to a step-up spread if
the Trusts fail to comply with certain provisions, including, among other things, the timely payment of dividends, redemptions or gross-up payments,
and maintaining certain asset coverage and leverage requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The average annualized dividend rates of the VMTP Shares for the
six months ended January 31, 2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Rate</B></B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.15</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1.15</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">%&nbsp;&nbsp;</FONT></TD>
</TABLE>
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<TD STYLE="text-align: left; width: 33%">62</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<TD width="36%"></TD></TR>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For financial reporting purposes, VMTP Shares are considered debt
of the issuer; therefore the liquidation value, which approximates fair value, of VMTP Shares is recorded as a liability in the Statements of Assets
and Liabilities. Unpaid dividends are included in interest expense and fees payable in the Statements of Assets and Liabilities, and the dividends paid
on the VMTP Shares are included as a component of interest expense, fees and amortization of offering costs in the Statements of Operations. VMTP
Shares are treated as equity for tax purposes. Dividends paid to holders of VMTP Shares are generally classified as tax-exempt income for tax-reporting
purposes.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">VMTP Shares issued and outstanding for BFZ, BNJ and BNY remained
constant for the six months ended January 31, 2013.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>RVMTP Shares</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT">BTT has offered for issuance Series W-7 RVMTP Shares, $5,000,000 liquidation value per share, in a privately negotiated offering and sale
of RVMTP Shares exempt from registration under the Securities Act. BTT has entered into an agreement with a qualified institutional buyer (the
&#147;Purchaser&#148;) to sell up to $750,000,000 in Series W-7 RVMTP Shares to the Purchaser, and in connection with such agreement, BTT has sold
$500,000,000 in RVMTP to the Purchaser as of January 31, 2013. As of January 31, 2013, the Purchaser was obligated to purchase an additional
$250,000,000 in Series W-7 RVMTP Shares, upon request of BTT, subject to certain conditions being satisfied. The Purchaser&#146;s obligation to
purchase the additional $250,000,000 in Series W-7 RVMTP Shares expires on March 31, 2013.</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The RVMTP Shares outstanding as of January 31, 2013 were as
follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Issue<BR> Date</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares<BR> Issued</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Aggregate<BR> Principal</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Term<BR> Date</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1/10/2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">50</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">250,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">12/31/30</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">1/30/2013</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">50</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">250,000,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">12/31/30</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BTT is required to redeem its RVMTP Shares on the term date or
within six months of an unsuccessful remarketing, unless earlier redeemed or repurchased. There is no assurance that BTT&#146;s RVMTP Shares will be
replaced with any other preferred shares or other form of leverage upon the redemption or repurchase of the RVMTP Shares. In addition, BTT is required
to redeem certain of its outstanding RVMTP Shares if it fails to maintain certain asset coverage, basic maintenance amount or leverage
requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Subject to certain conditions, BTT&#146;s RVMTP Shares may be
redeemed, in whole or in part, at any time at the option of BTT. The redemption price per RVMTP Share is equal to the liquidation value per share plus
any outstanding unpaid dividends. The RVMTP Shares are subject to certain restrictions on transfer outside of a remarketing. The RVMTP Shares are
subject to remarketing upon 90 days&#146; notice by holders of the RVMTP Shares and 30 days&#146; notice by BTT. Each remarketing must be at least six
months apart from the last remarketing. A holder of RVMTP Shares may submit notice of remarketing only if such holder requests a remarketing of at
least the lesser of (i) $100,000,000 of RVMTP Shares or (ii) all of the RVMTP Shares held by such holder. Amendments to the RVMTP Shares governing
document generally require the consent of the holders of RVMTP Shares.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Dividends on the RVMTP Shares are declared daily and payable
monthly at a variable rate set weekly at a fixed rate spread to the Securities Industry and Financial Markets Association Municipal Swap Index (SIFMA).
The initial fixed rate spread was agreed upon by the Purchaser and BTT on the initial date of issuance for the Series W-7 RVMTP Shares. The initial
fixed rate spread may be adjusted at each remarketing or upon the agreement between BTT and all of the holders of the RVMTP Shares. In the event all of
the RVMTP Shares submitted for remarketing are not successfully remarketed, a failed remarketing will occur, and all holders would retain their RVMTP
Shares. In the event of a failed remarketing, the fixed rate spread would be set at the fixed rate spread applicable to such failed remarketing. BTT
has the right to reject any fixed spread determined at a remarketing, and such rejection would result in a failed remarketing and the fixed rate spread
being set at the fixed rate spread applicable to such failed remarketing. The fixed rate spread applicable due to a failed remarketing depends on
whether the remarketing was pursuant to a mandatory or non-mandatory tender. In the case of a failed remarketing following a mandatory tender, the
failed remarketing spread would be the sum of the last applicable spread in effect immediately prior to the failed remarketing date for such failed
remarketing plus 0.75%. In the case of a failed remarketing not associated with a mandatory tender, the failed remarketing spread would be the sum of
the last applicable spread in effect immediately prior to the failed remarketing date for such failed remarketing plus 0.25%. In the event of a failed
remarketing that is not subsequently cured, BTT will be required to redeem the RVMTP Shares subject to such failed remarketing on a date that is
approximately 6 months from the remarketing date for such failed remarketing, provided that no redemption of any RVMTP Share may occur within 1 year of
the date of issuance of such RVMTP Share. At the date of issuance, the RVMTP Shares were assigned long-term ratings of Aaa from Moody&#146;s and AAA
from Fitch. The dividend rate on the RVMTP Shares is subject to a step-up spread if the Fund fails to comply with certain provisions, including, among
other things, the timely payment of dividends, redemptions or gross-up payments, and maintaining certain asset coverage and leverage
requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">There were no RVMTP Shares that were tendered for remarketing
during the period ended January 31, 2013.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The average annualized dividend rate for the BTT&#146;s RVMTP
Shares for the period ended January 31, 2013 was 0.74%.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">For financial reporting purposes, the RVMTP Shares are considered
debt of the issuer; therefore the liquidation value, which approximates fair value, of the RVMTP Shares is recorded as a liability in the Statements of
Assets and Liabilities. Unpaid dividends are included in interest expense and fees payable in the Statements of Assets and Liabilities, and the
dividends accrued and paid on the RVMTP Shares are included as a component of interest expense, fees and amortization of offering costs in the
Statements of Operations. The RVMTP Shares are treated as equity for tax purposes. Dividends paid to holders of the RVMTP Shares are generally
classified as tax-exempt income for tax-reporting purposes.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Offering Costs:</B> The Income Trusts incurred costs in
connection with the issuance of VRDP Shares, VMTP Shares and/or RVMTP Shares. For VRDP Shares, these costs were recorded as a deferred charge and will
be</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">63<BR></TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><BR>amortized over the 30-year life of the VRDP Shares with the
exception of upfront fees paid to the liquidity provider, which were amortized over the life of the liquidity agreement. For VMTP Shares, these costs
were recorded as a deferred charge and will be amortized over the 3-year life of the VMTP Shares. For RVMTP Shares, these costs were recorded as a
deferred charge and will be amortized over the 18-year life of the RVMTP Shares. Amortization of these costs is included in interest expense, fees and
amortization of offering costs in the Statements of Operations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>AMPS</B></DIV></P>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: -15px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT">The AMPS are redeemable at the option of BFO, in whole or in part, on any dividend payment date at their liquidation preference per share
plus any accumulated and unpaid dividends whether or not declared. The AMPS are also subject to mandatory redemption at their liquidation preference
plus any accumulated and unpaid dividends, whether or not declared, if certain requirements relating to the composition of the assets and liabilities
of BFO, as set forth in BFO&#146;s Statement of Preferences (the &#147;Governing Instrument&#148;) are not satisfied.</FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">From time to time in the future, BFO may effect repurchases of its
AMPS at prices below their liquidation preference as agreed upon by BFO and seller. BFO also may redeem its AMPS from time to time as provided in the
applicable Governing Instrument. BFO intends to effect such redemptions and/or repurchases to the extent necessary to maintain applicable asset
coverage requirements or for such other reasons as the Board may determine.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The BFO had the following series of AMPS outstanding, effective
yields and reset frequency as of January 31, 2013:</FONT></DIV></P>
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     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Series</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Preferred<BR> Shares</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Effective<BR> Yield</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Reset<BR> Frequency<BR> Days</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFO</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">F-7</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,044</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.16%</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">7</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">Dividends on seven-day AMPS are cumulative at a rate which is
reset every seven days based on the results of an auction. If the AMPS fail to clear the auction on an auction date, BFO is required to pay the maximum
applicable rate on the AMPS to holders of such shares for successive dividend periods until such time as the shares are successfully auctioned. The
maximum applicable rate on all series of AMPS prior to November 1, 2012 was the higher of 110% of the AA commercial paper rate or 100% of 90% of the
Kenny S&amp;P 30-day High Grade Index rate divided by 1.00 minus the marginal tax rate. The Kenny S&amp;P 30-day High Grade Index was discontinued as
of November 1, 2012. For purposes of calculating the maximum applicable rate, the Kenny S&amp;P 30-day High Grade Index was replaced with the S&amp;P
Municipal Bond 7 Day High Grade Rate Index as of November 1, 2012. The low, high and average dividend rates on the AMPS for BFO for the six months
ended January 31, 2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Series</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Low</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>High</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Average</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFO</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">F-7</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.14%</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.32%</FONT></TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH="5%" STYLE="border-bottom: windowtext 1pt solid; text-align: center; vertical-align: bottom">&nbsp;&nbsp;</TD>
     <TD WIDTH="5%" NOWRAP STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.24</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">%&nbsp;&nbsp;</FONT></TD>
</TR></TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Since February 13, 2008, the AMPS of BFO failed to clear any of
their auctions. As a result, the AMPS dividend rates were reset to the maximum applicable rate, which ranged from 0.14% to 0.32% for the six months
ended January 31, 2013. A failed auction is not an event of default for BFO but it has a negative impact on the liquidity of AMPS. A failed auction
occurs when there are more sellers of BFO&#146;s AMPS than buyers. A successful auction for BFO&#146;s AMPS may not occur for some time, if ever, and
even if liquidity does resume, holders of AMPS may not have the ability to sell the AMPS at their liquidation preference.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BFO pays commissions of 0.15% on the aggregate principal amount of
all shares that fail to clear their auctions and 0.25% on the aggregate principal amount of all shares that successfully clear their auctions. Certain
broker dealers have individually agreed to reduce commissions for failed auctions. The commissions paid to these broker dealers are included in
remarketing fees on Preferred Shares in the Statements of Operations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">AMPS issued and outstanding for BFO remained constant for the year
ended July 31, 2012.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">During the six months ended January 31, 2013, BFO announced the
following redemptions of AMPS at a price of $25,000 per share plus any accrued and unpaid dividends through the redemption date:</FONT></DIV></P>
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     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Series</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Redemption<BR> Date</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares<BR> Redeemed</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Aggregate<BR> Principal</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">F-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1/22/13</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">132</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,300,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">F-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1/28/13</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">540</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">13,500,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">During the year ended July 31, 2012, certain Trusts announced the
following redemptions of AMPS at a price of $25,000 per share plus any accrued and unpaid dividends through the redemption date:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Series</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Redemption<BR> Date</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Shares<BR> Redeemed</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Aggregate<BR> Principal</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">T-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;4/18/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,351</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">58,775,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">R-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;&nbsp;<FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/13/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,351</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">58,775,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">F-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom">&nbsp;&nbsp;<FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/16/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,151</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">58,775,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BBF</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">T-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">10/12/11</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,370</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">34,250,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNJ</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">R-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;4/13/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">2,364</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">59,100,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">W-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom">&nbsp;&nbsp;<FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/12/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">47,250,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">&nbsp;</DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD  style='border-bottom: solid windowtext 1pt'>&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt' nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">F-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom">&nbsp;&nbsp;<FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">4/16/12</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">1,890</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">47,250,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE:
9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BBF financed the AMPS redemptions with proceeds received from the
issuance of VRDP Shares of $34,200,000.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">BFZ, BNJ and BNY financed the AMPS redemptions with proceeds
received from the issuance of VMTP Shares as follows:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 42.5%; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-top: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; width: 10%; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">171,300,000</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">59,100,000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">94,500,000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>
<P ALIGN="LEFT"><DIV STYLE="TEXT-INDENT: 0px; TOP-MARGIN: 12px; TEXT-ALIGN: LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV
ALIGN="LEFT"><B>8. Subsequent Events:</B></FONT></DIV></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Management&#146;s evaluation of the impact of all subsequent
events on the Trusts&#146; financial statements was completed through the date the financial statements were issued and the following items were
noted:</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">On February 20, 2013, BTT issued the final 50 Series W-7 RVMTP
Shares with a $5,000,000 liquidation value per share, aggregate liquidation value of $250,000,000 and a maturity date of December 31, 2030, in a
privately negotiated offering and sale of RVMTP Shares exempt from registration under the Securities Act.</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">64</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Notes to Financial Statements (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">Each Trust paid a net investment income dividend on March 1, 2013
to Common Shareholders of record on February 15, 2013:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Common<BR> Dividend<BR> Per
Share</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 42.5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; width: 10%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.077700</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.056000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.072375</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.099000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.081100</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.075000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>

<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">The dividends declared on Preferred Shares for the period February
1, 2013, to February 28, 2013 were as follows:</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="width: 100%; text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Series</B><HR SIZE=1 NOSHADE
COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B>Dividends<BR> Declared</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFZ
VMTP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">W-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">144,924</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BFO
AMPS</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">F-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">3,268</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BBF
VRDP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">W-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">5,322</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNJ
VMTP Shares</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">W-7</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5%>&nbsp;&nbsp;</TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">50,000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 100%; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">BNY
VMTP Shares</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">W-7</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="width: 5%; border-bottom: Black 1pt solid">&nbsp;&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">79,950</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>


<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="text-align: left; margin-bottom: 6pt">Additionally, the Trusts declared a net investment income dividend
on March 1, 2013 payable to Common Shareholders of record on March 15, 2013:</FONT></DIV></P>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" STYLE="width: 100%; font-size: 9pt">
<TR VALIGN="BOTTOM">
     <TD NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B></B><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD STYLE="padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" NOWRAP STYLE="text-align: center; padding-top: 6pt; border-top: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="font-size: 9pt"><B><B>Common<BR> Dividend<BR> Per
Share</B></B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; width: 42.5%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFZ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="width: 5%; text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; width: 10%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.077700</FONT></TD>
     <TD NOWRAP STYLE="width: 5%; text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BFO</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.056000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BBF</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.072375</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BTT</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.099000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNJ</DIV></FONT></TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD>&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.075100</FONT></TD>
     <TD NOWRAP STYLE="text-align: left"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT:
0px">BNY</DIV></FONT></TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD STYLE="border-bottom: Black 1pt solid">&nbsp;</TD>
     <TD NOWRAP STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;$</FONT></TD>
     <TD STYLE="text-align: right; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">0.069000</FONT></TD>
     <TD NOWRAP STYLE="text-align: left; border-bottom: Black 1pt solid"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt">&nbsp;&nbsp;</FONT></TD>
</TABLE>


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<TD STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Disclosure of Investment Advisory Agreement and Sub-Advisory
Agreement</FONT><FONT color=gray STYLE="font-size: 10pt">&nbsp;&nbsp;</FONT></TD>
<TD NOWRAP STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board of Trustees (the &#147;Board,&#148; the members of which
are referred to as &#147;Board Members&#148;) of BlackRock Municipal Target Term Trust (the &#147;Trust&#148;) met on July 11, 2012 and July 27, 2012
to consider the approval of the Trust&#146;s investment advisory agreement (the &#147;Advisory Agreement&#148;) with BlackRock Advisors, LLC (the
&#147;Manager&#148;), the Trust&#146;s investment advisor. The Board also considered the approval of the sub-advisory agreement (the &#147;Sub-Advisory
Agreement&#148;) among the Manager, BlackRock Investment Management, LLC (the &#147;Sub-Advisor&#148;), and the Trust. The Manager and the Sub-Advisor
are referred to herein as &#147;BlackRock.&#148; The Advisory Agreement and the Sub-Advisory Agreement are referred to herein as the
&#147;Agreements.&#148;</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Activities and Composition of the Board</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">At the time the Board considered the Agreements on July 11, 2012,
the Board consisted of three individuals, two of whom were not &#147;interested persons&#148; of the Trust as defined in the Investment Company Act of
1940 (the &#147;1940 Act&#148;) (the &#147;Independent Board Members&#148;). At the time the Board considered the Agreements on July 27, 2012, the
Board consisted of eleven individuals, six of whom were Independent Board Members, and an additional three of whom would be Independent Board Members
after the completion of the Trust&#146;s initial public offering. The Board Members are responsible for the oversight of the operations of the Trust
and perform the various duties imposed on the directors of investment companies by the 1940 Act. The Independent Board Members have retained
independent legal counsel to assist them in connection with their duties. The Chairman of the Board is an Independent Board Member. The Board has
established six standing committees: an Audit Committee, a Governance and Nominating Committee, a Compliance Committee, a Performance Oversight
Committee, an Executive Committee and a Leverage Committee, each of which is currently chaired by an Independent Board Member and composed of
Independent Board Members (except for the Executive Committee and the Leverage Committee, each of which also has one interested Board
Member).</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>The Agreements</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Pursuant to the 1940 Act, the Board is required to consider the
initial approval of the Agreements. In connection with this process, the Board assessed, among other things, the nature, scope and quality of the
services to be provided to the Trust by BlackRock, BlackRock&#146;s personnel and its affiliates, including investment management, administrative and
shareholder services, oversight of fund accounting and custody, marketing services, risk oversight, compliance and assistance in meeting applicable
legal and regulatory requirements.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Board Considerations in Approving the
Agreements</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>The Approval Process:</B> Prior to the July 11, 2012 and July
27, 2012 meetings, the Board received materials specifically relating to the Agreements. The materials provided in connection with the July 11, 2012
meeting, and referred to in connection with the July 27, 2012 meeting, included information regarding (i) the investment objectives and policies of the
Trust; (ii) the team of investment advisory personnel assigned to the Trust; (iii) the Trust&#146;s management fee and estimated total operating
expenses as compared with a peer group of funds as determined by Lipper, Inc. (&#147;Lipper&#148;); and (iv) certain anticipated direct and indirect
&#147;fallout&#148; benefits to BlackRock from its relationship with the Trust. Periodically, the Board Members, in connection with their duties as
trustees or directors of other funds in the BlackRock family of closed-end funds, have received other information including general information
regarding BlackRock&#146;s management of such funds, BlackRock&#146;s management of relationships with service providers to such funds, resources
devoted to compliance with such funds&#146; investment objectives and policies, the structure and expertise of BlackRock and BlackRock&#146;s parent
companies, BlackRock&#146;s policies and procedures in respect of execution of portfolio transactions and other matters.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">At in person meetings held on July 11, 2012 and July 27, 2012, the
Board, including the Independent Board Members, reviewed materials relating to its consideration of the Agreements and unanimously approved the
Advisory Agreement between the Manager and the Trust, and the Sub-Advisory Agreement among the Manager, the Sub-Advisor, and the Trust. In approving
the Agreements, the Board considered, among other factors: (a) the nature, extent and quality of the services to be provided by BlackRock; (b) the
investment performance of BlackRock portfolio management in general; (c) the advisory fee and the cost of the services and profits to be realized by
BlackRock and its affiliates from their relationship with the Trust; (d) economies of scale; (e) fall-out benefits to BlackRock as a result of its
relationship with the Trust; and (f) other factors deemed relevant by the Board Members.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board also considered other matters it deemed important to the
approval process, such as payments made to BlackRock or its affiliates relating to securities lending, services related to the valuation and pricing of
Trust portfolio holdings, direct and indirect benefits to BlackRock and its affiliates from their relationship with the Trust and advice from
independent legal counsel with respect to the review process and materials submitted for the Board&#146;s review. The Board noted the willingness of
BlackRock personnel to engage in open, candid discussions with the Board. The Board did not identify any particular information as controlling, and
each Board Member may have attributed different weights to the various items considered.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>A. Nature, Extent and Quality of the Services Provided by
BlackRock: </B>The Board, including the Independent Board Members, reviewed the nature, extent and quality of services to be provided by BlackRock to
the Trust. The Board met with BlackRock&#146;s senior management personnel responsible for investment operations, including the senior investment
officers. The Board also reviewed the materials provided by the Trust&#146;s portfolio management team discussing the Trust&#146;s investment
objective, strategies and outlook.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board considered, among other factors, with respect to
BlackRock: the number, education and experience of investment personnel generally and the Trust&#146;s portfolio management team; investments by
portfolio managers in the funds they manage; portfolio trading capabilities; use of technology; commitment to compliance; credit analysis capabilities;
risk analysis and oversight capabilities; and the approach to training and retaining portfolio managers and other research, advisory and management
personnel. The Board engaged in a review of BlackRock&#146;s compensation structure with respect to the Trust&#146;s portfolio management team and
BlackRock&#146;s ability to attract and retain high-quality talent.</FONT></DIV></P>
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<TD NOWRAP STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Disclosure of Investment Advisory Agreement and Sub-Advisory
Agreement</FONT><FONT STYLE="color: Gray"> (continued)&nbsp;&nbsp;</FONT></TD>
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In addition to advisory services, the Board considered the quality
of the administrative and non-investment advisory services to be provided to the Trust. BlackRock and its affiliates will provide the Trust with
certain services (in addition to any such services provided to the Trust by third parties) and officers and other personnel as are necessary for the
operations of the Trust. In particular, BlackRock and its affiliates will provide the Trust with the following administrative services including, among
others: (i) preparing disclosure documents, such as the prospectus and the statement of additional information in connection with the initial public
offering and periodic shareholder reports; (ii) preparing communications with analysts to support secondary market trading of the Trust; (iii)
assisting with daily accounting and pricing; (iv) preparing periodic filings with regulators and stock exchanges; (v) overseeing and coordinating the
activities of other service providers; (vi) organizing Board meetings and preparing the materials for such Board meetings; (vii) providing legal and
compliance support; and (viii) performing other administrative functions necessary for the operation of the Trust, such as tax reporting, fulfilling
regulatory filing requirements and call center services. The Board reviewed the structure and duties of BlackRock&#146;s fund administration,
accounting, legal and compliance departments and considered BlackRock&#146;s policies and procedures for assuring compliance with applicable laws and
regulations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>B. The Investment Performance of the Trust and BlackRock:</B>
In their capacity as members of the boards of directors or trustees of certain other BlackRock-advised funds, the Board Members, including the
Independent Board Members, previously received and considered information about BlackRock&#146;s investment performance for other BlackRock-advised
funds. The Board, however, could not consider the performance history of the Trust because the Trust was newly organized and had not yet commenced
operations as of the July 11, 2012 or July 27, 2012 meetings.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>C. Consideration of the Advisory/Management Fees and the Cost
of the Services and Profits to be Realized by BlackRock and its Affiliates from their Relationship with the Trust: </B>The Board, including the
Independent Board Members, reviewed the Trust&#146;s contractual management fee rate compared with the other funds in its Lipper category. It also
compared the Trust&#146;s total expenses to those of other comparable funds. The funds within the peer group were selected by Lipper, which is not
affiliated with BlackRock.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board, including the Independent Board Members, reviewed six
sub-categories of fees and expenses for the Trust compared with the other funds in its Lipper peer group: (i) contractual management fees; (ii) total
expenses, including investment-related expenses and taxes; (iii) total expenses, excluding investment-related expenses and taxes; (iv) management fees
(common and leveraged); (v) management fees (common) and (vi) non-management expenses.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board noted that, relative to the other funds in its Lipper
peer group, the Trust was in the first quartile and below the median in each of the sub-categories, with the exception of total expenses including
investment-related expenses and taxes, where the Trust was above the median by approximate 0.17%, and non-management expenses, where the Trust was
equal to the median. The Board recognized that the Trust&#146;s relatively less favorable comparison in the total expenses including investment-related
expenses and taxes sub-category was largely due to distortions in the amount of investment-related expenses caused by the differences in the level and
type of leverage utilized by the funds in the Trust&#146;s Lipper peer group, as opposed to that proposed for the Trust. The Board noted that the Trust
assumed a 40% of managed assets leverage level and intended at the time to utilize only tender option bond trusts (&#147;TOBs&#148;) for leverage;
whereas other funds in the Trust&#146;s Lipper peer group had a median leverage level of 35% of managed assets and generally utilized auction market
preferred shares (&#147;AMPS&#148;) and/or TOBs for leverage. The Board recognized that accounting rules required the Trust and Lipper to reflect the
interest expense paid through a TOB trust as an expense of the Trust for purposes of this analysis and the Trust&#146;s financial statements, but did
not require funds using a comparable amount of AMPS leverage to do the same for preferred stock dividends.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board noted that the Trust ranks in the first quartile (and
second lowest) once investment-related expenses and taxes are removed from the analysis, and that the Trust&#146;s contractual management fee was the
second lowest in its Lipper peer group and that it was the same as or lower that of other target term trusts the Manager has sponsored in the
past.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board also considered whether BlackRock has the financial
resources necessary to attract and retain high quality investment management personnel to perform its obligations under the Agreements and to continue
to provide the high quality of services that is expected by the Board.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">As the Trust had not yet commenced operations, BlackRock was not
able to provide the Board with specific information concerning the expected profits to be realized by BlackRock and its affiliates from their
relationships with the Trust. BlackRock, however, noted that it will provide the Board with such information at future meetings.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Following consideration of this information, the Board, including
the Independent Board Members, concluded that the fees to be paid pursuant to the Agreements were fair and reasonable in light of the services to be
provided.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>D. Economies of Scale:</B> The Board, including the Independent
Board Members, considered the extent to which economies of scale might be realized as the assets of the Trust increase. The Board also considered the
extent to which the Trust may benefit from such economies and whether there should be changes in the advisory fee rate or structure in order to enable
the Trust to participate in these economies of scale, for example through the use of breakpoints in the advisory fee based upon the asset level of the
Trust.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Based on the Board&#146;s review and consideration of the issue,
the Board concluded that most closed-end fund complexes do not have fund level breakpoints because closed-end funds generally do not experience
substantial growth after the initial public offering. They are typically priced at scale at a fund&#146;s inception. The Board noted that only one
closed-end fund in the Fund Complex has breakpoints in its advisory fee structure.</FONT></DIV></P>
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<TD NOWRAP STYLE="text-align: left; font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Disclosure of Investment Advisory Agreement and Sub-Advisory
Agreement</FONT><FONT STYLE="color: Gray"> (concluded)</FONT></TD>
<TD NOWRAP STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif"><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>E. Other Factors Deemed Relevant by the Board Members:</B> The
Board, including the Independent Board Members, also took into account other ancillary or &#147;fall-out&#148; benefits that BlackRock or its
affiliates may derive from their respective relationships with the Trust, both tangible and intangible, such as BlackRock&#146;s ability to leverage
its investment professionals who manage other portfolios and risk management personnel, an increase in BlackRock&#146;s profile in the investment
advisory community, and the engagement of BlackRock&#146;s affiliates as service providers to the Trust, including securities lending and cash
management services. The Board also considered BlackRock&#146;s overall operations and its efforts to expand the scale of, and improve the quality of,
its operations. The Board also noted that BlackRock may use and benefit from third party research obtained by soft dollars generated by certain
registered fund transactions to assist in managing all or a number of its other client accounts. The Board further noted that BlackRock funds may
invest in affiliated exchange-traded funds without any offset against the management fees payable by the funds to BlackRock.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">In connection with its consideration of the Agreements, the Board
also received information regarding BlackRock&#146;s brokerage and soft dollar practices. The Board received reports from BlackRock which included
information on brokerage commissions and trade execution practices for BlackRock closed-end funds throughout the year.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board noted the competitive nature of the closed-end fund
marketplace, and that shareholders are able to sell their Trust shares in the secondary market if they believe that the Trust&#146;s fees and expenses
are too high or if they are dissatisfied with the performance of the Trust.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board, including all of the Independent Board Members,
concluded that these ancillary benefits that BlackRock and its affiliates could receive with regard to providing investment advisory and other services
to the Trust were consistent with those generally available to other fund sponsors.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Conclusion</B></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Board, including all the Independent Board Members,
unanimously approved the Advisory Agreement between the Manager and the Trust and the Sub-Advisory Agreement among the Manager, the Sub-Advisor, and
the Trust. Based upon its evaluation of all of the aforementioned factors in their totality, the Board, including the Independent Board Members, was
satisfied that the terms of the Agreements were fair and reasonable and in the best interest of the Trust and its shareholders. In arriving at its
decision to approve the Agreements, the Board, including the Independent Board Members, did not identify any single factor or group of factors as
all-important or controlling, but considered all factors collectively in light of all the Trust&#146;s surrounding circumstances, and different Board
Members may have attributed different weights to the various factors considered. The Independent Board Members were also assisted by the advice of
independent legal counsel in making this determination.</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">68</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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50%">&nbsp;</TD></TR></TABLE></DIV>

<DIV align=left>
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<TD width="36%"></TD></TR>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Officers and Trustees</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"></FONT></DIV></P>
<DIV STYLE="margin-right: 2%; width: 48%; float: left;">
<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="JUSTIFY"></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Richard E. Cavanagh, Chairman of the Board and Trustee<BR> Karen
P. Robards, Vice Chairperson of the Board, <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chairperson of the Audit Committee and Trustee<BR> Paul L. Audet,
Trustee<BR> Michael J. Castellano, Trustee and Member of the Audit<BR>
 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Committee<BR> Frank J. Fabozzi, Trustee and Member of the Audit <BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Committee<BR>
Kathleen F. Feldstein, Trustee<BR> James T. Flynn, Trustee and Member of the Audit Committee<BR> Henry Gabbay, Trustee<BR> Jerrold B. Harris,
Trustee<BR> R. Glenn Hubbard, Trustee<BR> W. Carl Kester, Trustee and Member of the Audit Committee<BR> John M. Perlowski, President and Chief
Executive Officer<BR> Anne Ackerley, Vice President<BR> Brendan Kyne, Vice President<BR> Robert W. Crothers, Vice President<BR> Neal Andrews, Chief
Financial Officer<BR> Jay Fife, Treasurer<BR> Brian Kindelan, Chief Compliance Officer and Anti-Money<BR> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Laundering
Officer<BR> Janey Ahn, Secretary</FONT></DIV></P>
<BR></DIV><DIV STYLE="margin-left: 2%; width: 48%; float: right;">
<P ALIGN="JUSTIFY"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="JUSTIFY"></FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Investment Advisor</B><BR> BlackRock Advisors, LLC<BR>
Wilmington, DE 19809</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Sub-Advisors</B><BR> BlackRock Financial Management,
Inc.<SUP>1</SUP><BR> New York, NY 10055</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock Investment Management, LLC<SUP>2</SUP><BR> Princeton, NJ
08540</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Custodian</B><BR> State Street Bank and Trust Company<BR>
Boston, MA 02110</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Transfer Agent</B><BR> <B>Common Shares:</B><BR> Computershare
Trust Company, N.A.<BR> Canton, MA 02021</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>AMPS Auction Agent</B><BR> The Bank of New York Mellon<BR>New
York, NY 10289</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>VRDP Tender and Paying Agent,<BR> RVMTP Tender and Paying Agent
and<BR>VMTP Redemption and Paying Agent</B><BR> The Bank of New York Mellon<BR> New York, NY 10289</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>VRDP Liquidity Provider</B><BR>Barclays Bank PLC<BR>New York,
NY 10019</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>VRDP Remarketing Agent</B><BR> Barclays Capital, Inc.<BR> New
York, NY 10019</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Accounting Agent</B><BR> State Street Bank and Trust
Company<BR> Boston, MA 02110</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Independent Registered Public Accounting Firm</B><BR> Deloitte
&amp; Touche LLP<BR> Boston, MA 02116</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Legal Counsel</B><BR> Skadden, Arps, Slate, Meagher &amp; Flom
LLP<BR> New York, NY 10036</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Address of the Trusts</B><BR> 100 Bellevue Parkway<BR>
Wilmington, DE 19809</FONT></DIV></P>
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<TR STYLE="vertical-align: top; font: 8pt Arial, Helvetica, Sans-Serif">
     <TD NOWRAP STYLE="text-align: left; font: 8pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, sans-serif"><SUP>1</SUP></FONT></TD>
     <TD STYLE="text-align: left; font: 8pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font-size: 8pt">&nbsp;</FONT></TD>
     <TD STYLE="width: 98%; text-align: left; font: 8pt Arial, Helvetica, Sans-Serif"><FONT STYLE="font: 8pt Arial, Helvetica, sans-serif">For
     all Trusts except BTT.</FONT></TD>
</TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="3px" ALIGN="LEFT" nowrap><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><SUP>2</SUP></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">For BTT.</FONT></TD>
</TR>
</TABLE>
</div><br style="clear:both">
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">69<BR></TD></TR></TABLE></DIV>
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100%">&nbsp;</TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Additional Information</FONT><FONT color=gray STYLE="font-size:
10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Gray"><B>Regulation Regarding
Derivatives</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Effective December 31, 2012, the Commodity Futures Trading Commission (&#147;CFTC&#148;) adopted certain
                                                                   regulatory changes that subject registered investment companies and advisers to registered investment companies to regulation
                                                                   by the CFTC if a fund invests more than a prescribed level of its net assets in CFTC-regulated futures, options and
                                                                   swaps (&#147;CFTC Derivatives&#148;), or if a fund markets itself as providing investment exposure to such instruments. To
                                                                   the extent a Trust uses CFTC-regulated futures, options and swaps, it intends to do so below such prescribed levels and
                                                                   will not market itself as a &#147;commodity pool&#148; or a vehicle for trading such instruments. Accordingly, BlackRock
                                                                   Advisors, LLC has claimed an exclusion from the definition of the term &#147;commodity pool operator&#148; under the
                                                                   Commodity Exchange Act (&#147;CEA&#148;) pursuant to Rule 4.5 under the CEA. BlackRock Advisors, LLC is not, therefore,
                                                                   subject to registration or regulation as a &#147;commodity pool operator&#148; under the CEA in respect of a Trust. </FONT></DIV></P>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Gray"><B>Dividend Policy</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Each Trust&#146;s dividend policy is to distribute all or a
portion of its net investment income to its shareholders on a monthly basis. In order to provide shareholders with a more stable level of dividend
distributions, the Trusts may at times pay out less than the entire amount of net investment income earned in any particular month and may at times in
any particular month pay out such accumulated but undistributed income in addition to net investment income earned in that month. As a result, the
dividends paid by the Trusts for any particular month may be more or less than the amount of net investment income earned by the Trusts during such
month. The Trusts&#146; current accumulated but undistributed net investment income, if any, is disclosed in the Statements of Assets and Liabilities,
which comprises part of the financial information included in this report.</FONT></DIV></P>
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<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
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100%">&nbsp;</TD></TR></TABLE></DIV>
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50%">&nbsp;</TD></TR></TABLE></DIV>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Additional Information (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Gray"><B>General Information</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">On July 29, 2010, the Manager announced that a shareholder
derivative complaint was filed on July 27, 2010 in the Supreme Court of the State of New York, New York County with respect to BFZ and BNJ, which had
previously received a demand letter from a law firm on behalf of each trust&#146;s common shareholders. The complaint was filed against the Manager,
BlackRock, BFZ, BNJ and certain of the directors, officers and portfolio managers (collectively, the &#147;BlackRock Parties&#148;) in connection with
the redemption of auction-market preferred shares, auction rate preferred shares, auction preferred shares and auction rate securities (collectively,
&#147;AMPS&#148;). The complaint alleged, among other things, that the BlackRock Parties breached their fiduciary duties to the common shareholders of
BFZ and BNJ (the &#147;Shareholders&#148;) by redeeming AMPS at their liquidation preference and alleges that such redemptions caused losses to the
Shareholders. On April 16, 2012, the plaintiffs amended their complaint and filed a consolidated shareholder derivative complaint which contains
similar substantive allegations to the original complaint but which does not include BNJ as a nominal defendant. Thus, BNJ is no longer a nominal
defendant in the derivative complaint. The plaintiffs are seeking monetary damages for the alleged losses suffered and to enjoin BFZ from future
redemptions of AMPS at their liquidation preference. On July 20, 2012, the BlackRock Parties filed a motion to dismiss the Complaint (the
&#147;Dismissal Motion&#148;). Plaintiffs, on September 14, 2012, moved to hold the defendant&#146;s motion to dismiss in abeyance and allow plaintiffs
limited discovery of the Demand Review Committee of the Board of Trustees, including depositions of its members and documents upon which they relied.
Argument on that motion occurred on March 14, 2013 and no decision has yet been rendered. The BlackRock Parties believe that the claims asserted in the
complaint are without merit and intend to vigorously defend themselves in the litigation.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts do not make available copies of their Statements of
Additional Information because the Trusts&#146; shares are not continuously offered, which means that the Statement of Additional Information of each
Trust has not been updated after completion of the respective Trust&#146;s offerings and the information contained in each Trust&#146;s Statement of
Additional Information may have become outdated.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">During the period, there were no material changes in the
Trusts&#146; investment objectives or policies or to the Trusts&#146; charters or by-laws that would delay or prevent a change of control of the Trusts
that were not approved by the 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></DIV></P>
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<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">71<BR></TD></TR></TABLE></DIV>
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100%">&nbsp;</TD></TR></TABLE></DIV>
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50%">&nbsp;</TD></TR></TABLE></DIV>
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<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Additional Information (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Gray"><B>General Information (concluded)</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Quarterly performance, semi-annual and annual reports and other
information regarding the Trusts may be found on BlackRock&#146;s website, which can be accessed at <B>http://www.blackrock.com</B>. 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 in this report.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Electronic Delivery</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Electronic copies of most financial reports are available on the
Trusts&#146; websites or shareholders can sign up for e-mail notifications of quarterly statements, annual and semi-annual reports by enrolling in the
Trusts&#146; electronic delivery program.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Shareholders Who Hold Accounts with Investment
                                                                   Advisors, Banks or Brokerages:</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Please contact your financial advisor to enroll. Please note that
not all investment advisors, banks or brokerages may offer this service.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Householding</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">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 call the Trusts at (800) 882-0052.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Availability of Quarterly Schedule of
                                                                   Investments</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">The Trusts file their complete schedule of portfolio holdings with
the SEC for the first and third quarters of each fiscal year on Form N-Q. The Trusts&#146; Forms N-Q are available on the SEC&#146;s website at
http://www.sec.gov and may also be reviewed and copied at the SEC&#146;s Public Reference Room in Washington, DC. Information on how to access
documents on the SEC&#146;s website without charge may be obtained by calling (800) SEC-0330. The Trusts&#146; Forms N-Q may also be obtained upon
request and without charge by calling (800) 882-0052.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Availability of Proxy Voting Policies
                                                                   and Procedures</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">A description of the policies and procedures that the Trusts use
to determine how to vote proxies relating to portfolio securities is available (1) without charge, upon request, by calling (800) 882-0052; (2) at
<B>http://www.blackrock.com</B>; and (3) on the SEC&#146;s website at http://www.sec.gov.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Availability of Proxy Voting Record</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">Information about how the Trusts voted proxies relating to
securities held in the Trusts&#146; portfolios during the most recent 12-month period ended June 30 is available upon request and without charge (1) at
<B>http://www.blackrock.com</B> or by calling (800) 882-0052 and (2) on the SEC&#146;s website at http://www.sec.gov.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT"><B>Availability of Trust Updates</B></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock will update performance and certain other data for the
Trusts on a monthly basis on its website in the &#147;Closed-end Funds&#148; section of <B>http://www.blackrock.com</B> as well as certain other
information as necessary from time to time. Investors and others are advised to periodically check the website for updated performance information and
the release of other material information about the Trusts. 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 in this report.</FONT></DIV></P>
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<TD STYLE="text-align: left; width: 33%">72</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TD width="36%"></TD></TR>
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<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Additional Information (continued)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif; color: Gray"><B>Section 19(a) Notice</B></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">These reported amounts and sources of distributions are estimates
and are not being provided for tax reporting purposes. The actual amounts and sources for tax reporting purposes will depend upon the Trust&#146;s
investment experience during the year and may be subject to changes based on the tax regulations. The Trust will provide a Form 1099-DIV each calendar
year that will explain the character of these dividends and distributions for federal income tax purposes.</FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="BOTTOM">
     <TD COLSPAN=36 WIDTH="15%" nowrap ALIGN="LEFT" ><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>January 31, 2013</B><BR><HR
SIZE=1

         NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="LEFT" ></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="15%" nowrap ALIGN="CENTER"></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=15 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total Fiscal Year-to-Date</B><BR>
     <B>Cumulative Distributions by Character</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD COLSPAN=15 nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Percentage of Fiscal Year-to-Date</B><BR>
     <B>Cumulative Distributions by Character</B><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD WIDTH="15%" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><HR SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net Investment</B><BR><B> Income</B><HR

         SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net Realized</B><BR><B> Capital
     Gains</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Return of</B><BR><B> Capital</B><HR

         SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total Per</B><BR><B> Common
     Share</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net Investment</B><BR><B> Income</B><HR

         SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Net Realized</B><BR><B> Capital
     Gains</B><HR
SIZE=1 NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Return of</B><BR><B> Capital</B><HR

         SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
     <TD ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;<HR SIZE=1 NOSHADE COLOR="#000000"
ALIGN="CENTER"></FONT></TD>
     <TD COLSPAN="3" nowrap ALIGN="CENTER"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif"><B>Total Per</B><BR><B> Common
     Share</B><HR SIZE=1
NOSHADE COLOR="#000000" ALIGN="CENTER"></FONT></TD>
</TR>
<TR VALIGN="BOTTOM">
     <TD ALIGN="LEFT" WIDTH="15%" style='border-bottom: solid windowtext 1pt'><DIV
STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">BTT</FONT></DIV></FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD  style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.182450</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.213553</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;$</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">0.396000</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">46%</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD ALIGN="RIGHT" style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&#151;</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">54%</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD WIDTH=5% ALIGN="RIGHT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
     <TD STYLE="text-align: center; border-bottom: windowtext 1pt solid; vertical-align: bottom"><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">100%</FONT></TD>
     <TD WIDTH=5% ALIGN="LEFT" nowrap style='border-bottom: solid windowtext 1pt'><FONT STYLE="font: 8pt Arial, Helvetica, Sans-Serif">&nbsp;&nbsp;</FONT></TD>
</TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" style="margin-top: 6pt">
<TR VALIGN="TOP">
     <TD WIDTH="9px" ALIGN="LEFT" nowrap><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV STYLE="MARGIN-LEFT: 6px" ></DIV></FONT></TD>
     <TD WIDTH="3px" ALIGN="LEFT">&nbsp;</TD>
     <TD WIDTH="98%" ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2">The Trust estimates that it has distributed more than the amount
of earned income and net realized gains; therefore, a portion of the distribution may be a return of capital. A return of capital may occur, for
example, when some or all of the shareholder&#146;s investment in the Trust is returned to the shareholder. A return of capital does not necessarily
reflect the Trust&#146;s investment performance and should not be confused with &lsquo;yield&#146; or &lsquo;income.&#146; When distributions exceed
total return performance, the difference will incrementally reduce the Trust&#146;s net asset value per share.</FONT></TD>
</TR>
</TABLE>
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<TR>
<TD STYLE="text-align: left; width: 33%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: center; width: 34%">JANUARY 31, 2013</TD>
<TD STYLE="text-align: right; width: 33%">73<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<DIV align=left>
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<TABLE style="WIDTH: 100%; FONT-FAMILY: 'Arial'; FONT-SIZE: 10pt" border=0 cellSpacing=0 cellpadding=0>
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<TD width="63%"></TD>
<TD width="36%"></TD></TR>
<TR vAlign=bottom>
<TD align=left STYLE="font-size: 14pt; border-top: gray 4pt solid"><FONT color=gray>Additional Information (concluded)</FONT><FONT color=gray
STYLE="font-size: 10pt">&nbsp;</FONT></TD>
<TD STYLE="text-align: right; border-top: gray 4pt solid; font: 10pt Arial, Helvetica, Sans-Serif" NOWRAP><B><FONT
color=gray><BR></FONT></B></TD></TR></TABLE></DIV>
<P STYLE="text-align: left; color: gray; border-top: gray 2pt solid; border-bottom: gray 1pt solid; padding-top: 1pt; padding-bottom: 1pt;
background-color: #f0f0f0; padding-left: 12pt"><B><FONT COLOR="gray">BlackRock Privacy Principles</FONT></B></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock is committed to maintaining the privacy of its current
and former fund investors and individual clients (collectively, &#147;Clients&#148;) and to safeguarding their non-public personal information. The
following information is provided to help you understand what personal information BlackRock collects, how we protect that information and why in
certain cases we share such information with select parties.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">If you are located in a jurisdiction where specific laws, rules or
regulations require BlackRock to provide you with additional or different privacy-related rights beyond what is set forth below, then BlackRock will
comply with those specific laws, rules or regulations.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock obtains or verifies personal non-public information from
and about you from different sources, including the following: (i) information we receive from you or, if applicable, your financial intermediary, on
applications, forms or other documents; (ii) information about your transactions with us, our affiliates, or others; (iii) information we receive from
a consumer reporting agency; and (iv) from visits to our websites.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">BlackRock does not sell or disclose to non-affiliated third
parties any non-public personal information about its Clients, except as permitted by law or as is necessary to respond to regulatory requests or to
service Client accounts. These non-affiliated third parties are required to protect the confidentiality and security of this information and to use it
only for its intended purpose.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">We may share information with our affiliates to service your
account or to provide you with information about other BlackRock products or services that may be of interest to you. In addition, BlackRock restricts
access to non-public personal information about its Clients to those BlackRock employees with a legitimate business need for the information. BlackRock
maintains physical, electronic and procedural safeguards that are designed to protect the non-public personal information of its Clients, including
procedures relating to the proper storage and disposal of such information.</FONT></DIV></P>
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<TR>
<TD STYLE="text-align: left; width: 33%">74</TD>
<TD STYLE="text-align: center; width: 34%">SEMI-ANNUAL REPORT</TD>
<TD STYLE="text-align: right; width: 33%">JANUARY 31, 2013<BR></TD></TR></TABLE></DIV>
<DIV STYLE="border-bottom: Black 4pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width:
100%">&nbsp;</TD></TR></TABLE></DIV>
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New Roman, Times, Serif"><TR><TD STYLE="text-align: left; width: 50%">&nbsp;</TD><TD STYLE="text-align: right; width:
50%">&nbsp;</TD></TR></TABLE></DIV>
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">&nbsp;&nbsp;</FONT></DIV></P>
<!-- agabop mode="ep" last-style="text" -->
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<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"></FONT></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="2"><DIV ALIGN="LEFT">This report is transmitted to shareholders only. It is not a
prospectus. Past performance results shown in this report should not be considered a representation of future performance. The Trusts have leveraged
their Common Shares, which creates risks for Common Shareholders, including the likelihood of greater volatility of net asset value and market price of
the Common Shares, and the risk that fluctuations in short-term dividend rates of the Preferred Shares may reduce the Common Shares&#146; yield.
Statements and other information herein are as dated and are subject to change.</FONT></DIV></P>
<P ALIGN="LEFT"><FONT FACE="Arial, Helvetica, sans-serif" SIZE="1"><DIV ALIGN="LEFT"></FONT></DIV></P>
<TABLE ALIGN="" CELLPADDING="0" CELLSPACING="0" BORDER="0" WIDTH="100%" STYLE="FONT-SIZE: 9pt">
<TR VALIGN="TOP">
     <TD ALIGN="LEFT" WIDTH="100%"><FONT FACE="Arial, Helvetica, sans-serif" STYLE="FONT-SIZE: 9pt"><DIV STYLE="MARGIN-LEFT: 0px; TEXT-INDENT: 0px">
<IMG SRC="gopaperless_leaf.gif" STYLE="height: 47px; width: 210px">
<BR>
&nbsp;</DIV></FONT></TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
     <TD >&nbsp;</TD>
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<TABLE CELLSPACING="0" CELLPADDING="4" STYLE="width: 100%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 2 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Code of Ethics &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 3 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Audit Committee Financial Expert &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 4 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Principal Accountant Fees and Services &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 5 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Audit Committee of Listed Registrants &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 6 &ndash; </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Investments</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(a) The registrant&rsquo;s Schedule of Investments is included as part of the Report to Stockholders filed under Item 1 of this Form.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(b) Not Applicable due to no such divestments during the semi-annual period covered since the previous Form N-CSR filing.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 7 &ndash; </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 8 &ndash; </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Portfolio Managers of Closed-End Management Investment Companies </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 11pt">(a)</FONT></TD>
    <TD STYLE="width: 85%"><FONT STYLE="font-size: 11pt">Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 11pt">(b)</FONT></TD>
    <TD><FONT STYLE="font-size: 11pt">As of the date of this filing, there have been no changes in any of the portfolio managers identified in the most recent annual report on Form N-CSR.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 9 &ndash; </FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers &ndash; Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 10 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Submission of Matters to a Vote of Security Holders &ndash; There have been no material changes to these procedures.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 11 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Controls and Procedures</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(a) &ndash; The registrant&rsquo;s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant&rsquo;s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the &ldquo;1940 Act&rdquo;)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(b) &ndash; There were no changes in the registrant&rsquo;s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant&rsquo;s internal control over financial reporting.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 11pt">Item 12 &ndash;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">Exhibits attached hereto</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(a)(1) &ndash; Code of Ethics &ndash; Not Applicable to this semi-annual report</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(a)(2) &ndash; Certifications &ndash; Attached hereto</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(a)(3) &ndash; Not Applicable</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 11pt">(b) &ndash; Certifications &ndash; Attached hereto</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">&nbsp;</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">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.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">BlackRock California Municipal Income Trust</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 60%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt"><U>/s/ John M. Perlowski</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">John M. Perlowski</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">Chief Executive Officer (principal executive officer) of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">BlackRock California Municipal Income Trust</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">Date: April 3, 2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">Pursuant to the requirements of the Securities Exchange
Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the
registrant and in the capacities and on the dates indicated.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 65%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 60%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt"><U>/s/ John M. Perlowski</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">John M. Perlowski</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">Chief Executive Officer (principal executive officer) of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">BlackRock California Municipal Income Trust</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">Date: April 3, 2013</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 65%; font: 11pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt">By:</FONT></TD>
    <TD STYLE="width: 60%; padding-right: -0.25in"><FONT STYLE="font-size: 11pt"><U>/s/ Neal J. Andrews</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">Neal J. Andrews</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">Chief Financial Officer (principal financial officer) of</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: -0.25in">&nbsp;</TD>
    <TD STYLE="padding-right: -0.25in"><FONT STYLE="font-size: 11pt">BlackRock California Municipal Income Trust</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 41.75pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-right: 0; margin-bottom: 0">Date: April 3, 2013</P>


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<TYPE>EX-99.CERT
<SEQUENCE>2
<FILENAME>e51807ex99cert.htm
<DESCRIPTION>CERTIFICATIONS
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><FONT STYLE="letter-spacing: -1pt; vertical-align: baseline"><B>EX-99.
CERT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-bottom: Black 0.75pt solid"><B>CERTIFICATION
PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">I, John M. Perlowski, Chief Executive
Officer (principal executive officer) of BlackRock California Municipal Income Trust, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>I have reviewed this report on Form N-CSR of BlackRock California Municipal Income Trust;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the
second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: -0.25pt">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">Date: April 3, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><U>/s/ John M. Perlowski</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">John M. Perlowski</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">Chief Executive Officer (principal executive
officer) of<BR>
BlackRock California Municipal Income Trust</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><FONT STYLE="letter-spacing: -1pt; vertical-align: baseline"><B>EX-99.
CERT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0in; border-bottom: Black 0.75pt solid"><B>CERTIFICATION
PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">I, Neal J. Andrews, Chief Financial
Officer (principal financial officer) of BlackRock California Municipal Income Trust, certify that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">1.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>I have reviewed this report on Form N-CSR of BlackRock California Municipal Income Trust;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">2.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">3.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">4.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">c)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">d)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the
second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially
affect, the registrant's internal control over financial reporting; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: 0in">5.<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">a)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt 0.5in; text-indent: 0in">b)<FONT STYLE="font: 7pt Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
</FONT>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.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-indent: -0.25pt">Date: April 3, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt"><U>/s/ Neal J. Andrews</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">Neal J. Andrews</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: -0.25pt">Chief Financial Officer (principal financial
officer) of<BR>
BlackRock California Municipal Income Trust</P>


<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt">&nbsp;</P>

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<DOCUMENT>
<TYPE>EX-99.906 CERT
<SEQUENCE>3
<FILENAME>e51807ex99_1350cert.htm
<DESCRIPTION>CERTIFICATIONS
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">Exhibit 99.1350CERT</P>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: center"><B>Certification Pursuant to Rule 30a-2(b)
under the 1940 Act and<BR>
Section 906 of the Sarbanes-Oxley Act of 2002</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify">Pursuant to 18 U.S.C. &sect; 1350, the
undersigned officer of BlackRock California Municipal Income Trust (the &ldquo;registrant&rdquo;), hereby certifies, to the best
of his knowledge, that the registrant's Report on Form N-CSR for the period ended January 31, 2013 (the &ldquo;Report&rdquo;) fully
complies with the requirements of Section 13a of the Securities Exchange Act of 1934, as amended, and that the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">Date: April 3, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ John M. Perlowski</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">John M. Perlowski</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Executive Officer (principal executive officer) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BlackRock California Municipal Income Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt; text-align: justify">Pursuant to 18 U.S.C. &sect; 1350, the
undersigned officer of BlackRock California Municipal Income Trust (the &ldquo;registrant&rdquo;), hereby certifies, to the best
of his knowledge, that the registrant's Report on Form N-CSR for the period ended January 31, 2013 (the &ldquo;Report&rdquo;) fully
complies with the requirements of Section 13a of the Securities Exchange Act of 1934, as amended, and that the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the registrant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 11pt">Date: April 3, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><U>/s/ Neal J. Andrews</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Neal J. Andrews</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer (principal financial officer) of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">BlackRock California Municipal Income Trust</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">This certification is being furnished pursuant to Rule 30a-2(b)
under the Investment Company Act of 1940, as amended, and 18 U.S.C. Section 1350 and is not being filed as part of the Form N-CSR
with the Securities and Exchange Commission<B>.</B></P>



<P STYLE="margin: 0"></P>

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`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
