-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 FskB9Wqiu298y4ovVnmTQL2lYO/cqZ6icEOD4UpB5CPmk3AizOfaHcrrPsOY/IKw
 7h/iV+QlZFSEfeeEEeO1Jw==

<SEC-DOCUMENT>0000950156-06-000114.txt : 20060331
<SEC-HEADER>0000950156-06-000114.hdr.sgml : 20060331
<ACCEPTANCE-DATETIME>20060331142630
ACCESSION NUMBER:		0000950156-06-000114
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20060131
FILED AS OF DATE:		20060331
DATE AS OF CHANGE:		20060331
EFFECTIVENESS DATE:		20060331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			MFS MULTIMARKET INCOME TRUST
		CENTRAL INDEX KEY:			0000809173
		IRS NUMBER:				046562226
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-04975
		FILM NUMBER:		06727802

	BUSINESS ADDRESS:	
		STREET 1:		500 BOYLSTON ST
		STREET 2:		15TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		18006372929

	MAIL ADDRESS:	
		STREET 1:		500 BOYLSTON STREET
		STREET 2:		15TH FLOOR
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MFS HIGH YIELD MARKETS TRUST
		DATE OF NAME CHANGE:	19870204
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>d64389.htm
<DESCRIPTION>MFS MULTIMARKET INCOME TRUST
<TEXT>
<!DOCTYPE HTML PUBLIC "d64389.pdf">


<HTML>
<HEAD>
   <TITLE>d64389.pdf -- Converted by SECPublisher 4.0, created by BCL Technologies Inc., for SEC Filing</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY bgcolor="#ffffff">
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">UNITED STATES</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>SECURITIES AND EXCHANGE
      COMMISSION</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Washington, D.C.
      20549</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>FORM N-Q</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>QUARTERLY SCHEDULE OF
      PORTFOLIO HOLDINGS OF</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">REGISTERED MANAGEMENT INVESTMENT
      COMPANIES</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Investment Company Act file
      number 811-4975</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>MFS MULTIMARKET INCOME
      TRUST</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">(Exact name of registrant as
      specified in charter)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>500 Boylston Street, Boston,
      Massachusetts 02116</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">(Address of principal executive
      offices) (Zip code)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Susan S. Newton</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">Massachusetts Financial Services
      Company</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">500 Boylston Street</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">Boston, Massachusetts
      02116</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman">(Name and address of agents for
      service)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Registrant&#146;s telephone number,
      including area code: (617) 954-5000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Date of fiscal year end:
      October 31</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=center width="9%">&nbsp; </TD>
    <TD vAlign=top noWrap align=center width="90%"><FONT
      face="Times New Roman"><BR>Date of reporting period:
      January 31, 2006</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="90%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=2>&nbsp; </TD></TR></TABLE><BR>


<P></p>ITEM 1. SCHEDULE OF INVESTMENTS.</P>
<P><IMG height=857
src="mmtq2-1_06x1x1.jpg"
width=616 border=0> </P>
<P><BR>&nbsp;</P><!--$$/page=--><p style="page-break-before: always"></p><A name=page_2></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >MFS Multimarket Income Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited)
      01/31/2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"
     ><B><U><FONT face="Arial Narrow" size=2

     >Issuer</FONT></U></B>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><U><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></U></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><U><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></U></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; 96.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Advertising &amp; Broadcasting &#150;
      2.7%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Allbritton Communications Co., 7.75%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >795,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >796,988</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>DIRECTV
      Holdings LLC, 8.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,934,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,074,215</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>EchoStar DBS
      Corp., 6.375%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,205,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,099,875</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Innova S. de
      R.L., 9.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >254,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >281,623</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Intelsat
      Ltd., 8.625%, 2015(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >580,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >581,450</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Lamar Media
      Corp., 7.25%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,715,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,770,738</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Liberty
      Media Corp., 5.7%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,799,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,619,679</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>News America
      Holdings, 7.7%, 2025</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,217,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,504,104</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%">&nbsp;
    </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,728,672</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><B><FONT
      face="Arial Narrow" size=2
     >Aerospace &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>DRS
      Technologies, Inc., 7.625%, 2018</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >570,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >578,550</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Rolls-Royce
      PLC, 6.375%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >300,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >380,665</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%">&nbsp;
    </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >959,215</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><B><FONT
      face="Arial Narrow" size=2
     >Airlines &#150; 0.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Continental
      Airlines, Inc., 6.545%, 2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,263,414</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,270,317</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Continental
      Airlines, Inc., 7.566%, 2020</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,045,217</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >974,129</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%">&nbsp;
    </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,244,446</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><B><FONT
      face="Arial Narrow" size=2
     >Apparel Manufacturers &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Quiksilver,
      Inc., 6.875%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >110,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >105,600</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Asset Backed &amp; Securitized &#150;
      12.9%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Airplane Pass-Through Trust, "D", 10.875%,
      2019(r)(d)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >246,925</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Amresco Commercial Mortgage Funding I, 7%, 2029</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,570,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,607,023</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>ARCap, Inc.,
      "H", 6.1%, 2045(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,792,677</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Asset Securitization Corp., FRN, 8.2927%, 2029</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,877,956</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,984,622</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Banc of America Commercial Mortgage,</FONT>&nbsp;<FONT
      face="Arial Narrow" size=2>Inc.,
      4.857%, 2043</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,375,626</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,334,188</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Banc of America Commercial Mortgage,</FONT>&nbsp;<FONT
      face="Arial Narrow" size=2>Inc.,
      5.182%, 2047</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,375,626</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,372,578</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Bayview Financial Acquisition Trust, 5.483%,
      2045</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,130,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,129,986</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Chalet
      Finance 1 PLC, 2.72%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >300,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >365,581</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Commercial Mortgage Acceptance Corp., FRN, 5.44%,
      2030(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,481,454</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Countrywide Asset-Backed Certificates FRN, 4.575%,
      2035</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >614,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >604,980</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >CPS Auto Receivables Trust, 2.89%, 2009(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >337,586</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >329,569</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>Crest Ltd.,
      7%, 2040(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,854,200</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%"><FONT
      face="Arial Narrow" size=2>DEPFA Bank,
      5.5%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >960,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,264,287</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="29%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="33%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Deutsche Mortgage &amp; Asset Receiving Corp., 7.5%,
      2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,847,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,052,255</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >DLJ Commercial Mortgage Corp., 6.04%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,022,739</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Falcon Franchise Loan LLC, FRN, 3.0186%, 2025(i)</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >8,695,883</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,415,387</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >First Union National Bank Commercial Mortgage Trust, FRN,
      0.9542%, 2043(a)(i)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >29,200,536</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,159,679</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >First Union-Lehman Brothers Bank of America, FRN, 0.4969%,
      2035(i)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >67,795,425</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,280,778</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >First Union-Lehman Brothers Commercial Mortgage Trust, 7%,
      2029(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,847,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,003,367</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >First Union-Lehman Brothers Commercial Mortgage Trust, 7.5%,
      2029</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,846,973</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,046,883</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >GE Capital Commercial Mortgage Corp., 6.496%,
      2033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,384,781</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,507,646</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >GMAC Commercial Mortgage Securities, Inc., 6.02%,
      2033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,542,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,550,075</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >GMAC Commercial Mortgage Securities, Inc., FRN, 7.6613%,
      2034(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,853,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,007,300</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Granites Mortgages PLC, 5.15% to 2007, FRN to
      2042</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >350,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >436,621</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >J.P. Morgan Chase Commercial Mortgage Securities Corp., FRN,
      5.2947%, 2043</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,375,626</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,383,507</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >J.P. Morgan Chase Commercial Mortgage Securities Corp., FRN,
      4.77%, 2046</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,592,895</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,594,670</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Lehman Brothers Commercial Conduit Mortgage Trust, FRN,
      1.1597%, 2030(i)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >18,014,856</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >466,819</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Morgan Stanley Capital I, Inc., FRN 1.5033%,
      2014(a)(i)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,915,475</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,084,862</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Morgan Stanley Capital I, Inc., 6.86%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,215,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,244,782</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Mortgage Capital Funding, Inc., 7.214%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,294,822</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Mortgage Capital Funding, Inc., FRN, 0.7801%,
      2031(i)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >18,571,573</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >264,253</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Multi-Family Capital Access One, Inc., 6.65%,
      2024</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >112,012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >115,301</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="62%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Preferred Term Securities IV Ltd., 6.7469%,
      2031(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,045,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="62%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=6>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="29%">&nbsp;
    </TD>
    <TD noWrap align=right width="33%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_3></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><B><FONT
      face="Arial Narrow" size=2
     >Asset Backed &amp; Securitized &#150; continued</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Prudential
      Securities Secured Financing Corp., FRN, 7.4486%, 2013(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,581,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,771,946</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>RMAC PLC,
      2.652%, 2036(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >230,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >279,859</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Structured
      Asset Securities Corp., FRN, 4.67%, 2035</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,570,839</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,520,226</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>TIAA Real
      Estate CDO Ltd., 7.17%, 2032(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,529,118</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,584,954</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Wachovia
      Bank Commercial Mortgage Trust, FRN, 5.083%, 2042</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,970,168</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Wachovia
      Bank Commercial Mortgage Trust, FRN, 4.935%, 2042</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,949,814</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Wachovia
      Bank Commercial Mortgage Trust, FRN, 5.118%, 2042</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,375,626</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,357,293</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Wachovia
      Bank Commercial Mortgage Trust, FRN, 5.3164%, 2044</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,777,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,784,392</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%">&nbsp;
    </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >70,316,543</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><B><FONT
      face="Arial Narrow" size=2
     >Automotive &#150; 2.7%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Continental
      AG, 6.875%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >133,067</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2
     >DaimlerChrysler N.A. Holdings Corp., 8.5%, 2031</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,251,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,516,890</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2
     >DaimlerChrysler Note, 5.625%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >124,604</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Ford Motor
      Credit Co., 4.95%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >435,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >401,246</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Ford Motor
      Credit Co., 5.8%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >410,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >371,996</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Ford Motor
      Credit Co., 7.375%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,115,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,978,783</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Ford Motor
      Credit Co., 5.7%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,102,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >974,727</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Ford Motor
      Credit Co., 7%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >546,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >494,578</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>General
      Motors Acceptance Corp., 6%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >375,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >455,081</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>General
      Motors Acceptance Corp., 6.125%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >315,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >302,861</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>General
      Motors Acceptance Corp., 5.85%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,305,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,229,140</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>General
      Motors Acceptance Corp., 6.75%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,886,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,787,445</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Johnson
      Controls, Inc., 5.25%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,180,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,176,418</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Lear Corp.,
      8.11%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,040,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >956,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Navistar
      International Corp., 7.5%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,155,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,143,450</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>TRW
      Automotive, Inc., 9.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,692,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,840,050</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%">&nbsp;
    </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,887,136</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><B><FONT
      face="Arial Narrow" size=2
     >Banks &amp; Credit Companies &#150; 3.9%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>ATF Bank
      JSC, 9.25%, 2012(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >17,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >17,871</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Banco BMG
      S.A., 9.15%, 2016(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >714,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >715,785</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Banco De
      Estado de Sao Paulo S.A., 8.7%, 2049(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >777,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >800,310</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Banco Do
      Estado de Banespa, 8.7%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,450</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Banco
      Mercantil del Norte S.A., 5.875% to 2009, FRN to 2014 (a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >655,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >650,088</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Bank of
      Ireland, 7.4%, 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >709,533</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>BNP Paribas
      Capital Trust III, 6.625%, 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >139,204</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>BNP Paribas,
      5.186% to 2015, FRN to 2049 (a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,099,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,016,889</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Chuo Mitsui
      Trust &amp; Banking Co., 5.506% to 2015, FRN to 2049 (a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >642,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >623,837</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Credit
      Suisse First Boston (USA), Inc., 4.875%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,023,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,011,496</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Credit
      Suisse Group, 7.974%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >265,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >375,988</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>HBOS Capital
      Funding LP, 6.071% to 2014, FRN to 2049 (a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,543,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,579,069</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>J.P. Morgan
      Chase &amp; Co., 5.125%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,755,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,701,322</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Kazkommerts
      International B.V., 10.125%, 2007(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >122,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >128,405</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Mizuho
      Financial Group, Inc., 4.75%, 2014(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >127,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >159,933</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Mizuho
      Financial Group, Inc., 5.79%, 2014(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,633,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,672,424</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>National
      Westminster Bank PLC, 6.625% to 2009, FRN to 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >330,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >443,649</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>RBS Capital
      Trust II, 6.425% to 2034, FRN to 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >833,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >866,054</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Resona Bank
      Ltd., 5.85% to 2016, FRN to 2049 (a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >626,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >622,250</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Russian
      Standard Finance S.A., 7.5%, 2010(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >257,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >253,466</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>SG Capital
      Trust I, 7.875%, 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >300,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >422,798</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Turanalem
      Finance B.V., 7.875%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,525</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>Turanalem
      Finance B.V., 8%, 2014(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >940,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >972,900</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%"><FONT
      face="Arial Narrow" size=2>VTB Capital
      S.A., 7.5%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >49,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >52,915</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="59%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="59%">&nbsp;
    </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>2</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_4></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Banks &amp; Credit Companies &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Wachovia
      Capital Trust III, 5.8%, 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,068,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,080,570</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >21,047,731</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Broadcast &amp; Cable TV &#150; 3.0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>CCH I LLC,
      10.25%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,025,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,008,344</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Cox
      Communications, Inc., 4.625%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,744,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,615,073</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>CSC
      Holdings, Inc., 8.125%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,969,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,998,535</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Lenfest
      Communications, Inc., 10.5%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >508,555</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Mediacom
      LLC, 9.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >490,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >486,325</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Rogers
      Cable, Inc., 5.5%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,975,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,856,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>TCI
      Communications Financing III, 9.65%, 2027</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,390,435</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>TCI
      Communications, Inc., 9.8%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,135,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,355,779</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Time Warner
      Entertainment Co., LP, 8.375%, 2033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,557,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,841,084</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >16,060,630</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Brokerage &amp; Asset Managers &#150; 1.0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Goldman
      Sachs Group, Inc., 5.7%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,665,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,715,270</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Morgan
      Stanley Dean Witter, Inc., 6.6%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,538,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,704,285</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,419,555</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Building &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>American
      Standard Cos., Inc., 7.375%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,594,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Business Services &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Iron
      Mountain, Inc., 7.75%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >375,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >380,625</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Xerox Corp.,
      7.625%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,010,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,135,625</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,516,250</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Chemicals &#150; 1.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Akzo Nobel
      N.V., 5.625%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >129,469</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>BCP Crystal
      Holdings Corp., 9.625%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >413,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >458,430</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Equistar
      Chemicals, 10.625%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,225,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,347,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Hercules,
      Inc., 6.75%, 2029</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,890,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,819,125</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Huntsman
      International LLC, 10.125%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >575,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >594,406</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Kronos
      International, Inc., 8.875%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >95,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >121,142</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Linde
      Finance B.V., 6% to 2013, FRN to 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >101,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >120,702</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Lyondell
      Chemical Co., 11.125%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,330,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,492,925</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Nalco Co.,
      7.75%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >695,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >708,900</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Rhodia S.A.,
      8.875%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >231,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >235,620</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Rockwood
      Specialties, Inc., 7.5%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >98,625</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >7,126,844</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Conglomerates &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Thyssenkrupp
      Finance B.V., 7%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >133,349</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Tyco
      International Group S.A., 6.75%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >707,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >750,104</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >883,453</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Construction &#150; 0.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>D.R. Horton,
      Inc., 8%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,880,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,999,403</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>M/I Homes,
      Inc., 6.875%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,325,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,189,188</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,188,591</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Consumer Goods &amp; Services &#150; 0.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>ASSA ABLOY
      AB, 5.125%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >30,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >37,142</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Church &amp;
      Dwight Co., Inc., 6%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >805,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >790,913</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Fortune
      Brands, Inc., 5.125%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >632,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >628,299</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Service
      Corp. International, 7%, 2017(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >560,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >568,400</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>3</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_5></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;&nbsp; &nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-TOP: #400040 1pt solid" noWrap align=left width="55%"
   ><B><FONT face="Arial Narrow" size=2
     ><BR>Consumer Goods &amp;
      Services &#150; continued</FONT></B>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid" noWrap align=right width="17%"
   >&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid" noWrap align=right width="11%"
   >&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid" noWrap align=right width="6%"
   >&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid" noWrap align=right width="11%"
   >&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Sodexho
      Alliance S.A., 5.875%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >129,834</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,154,588</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Containers &#150; 0.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Crown
      Americas, 7.75%, 2015(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >535,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >555,063</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2
     >Owens-Brockway Glass Container, Inc., 8.875%,
      2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >515,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >537,531</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2
     >Owens-Brockway Glass Container, Inc., 8.25%,
      2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >925,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >973,563</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,066,157</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Defense Electronics &#150; 0.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>L-3
      Communications Holdings, Inc., 5.875%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,630,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,572,950</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Electronics &#150; 0.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Flextronics
      International Ltd., 6.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,880,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,894,100</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Emerging Market Quasi-Sovereign &#150; 0.9%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Gaz Capital
      S.A., 8.625%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >69,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >87,202</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Gazprom OAO,
      9.625%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >610,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >731,238</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Gazprom OAO,
      8.625%, 2034(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >713,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >900,519</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, 7.375%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >721,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >795,984</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, 8.625%, 2022</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >410,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >500,815</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, 10%, 2027(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >122,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >162,260</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, 6.625%, 2035</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >29,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >29,029</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, FRN, 5.7913%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >38,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >39,140</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pemex
      Project Funding Master Trust, FRN, 5.01%, 2012(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >113,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >112,774</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Petronas
      Capital Ltd., 7.875%, 2022(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >487,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >598,386</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Petronas
      Capital Ltd., 7.875%, 2022</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >802,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >985,432</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,942,779</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Emerging Market Sovereign &#150; 2.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Aries
      Vermogensverwaltungs, 9.6%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >319,375</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Banco de La
      Republica Oriental del Uruguay, 10.5%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >UYU</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,033,356</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >45,056</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Banque
      Centrale de Tunisie, 7.375%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >22,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >24,228</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 7.875%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >49,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >52,969</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 8%, 2018</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >107,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >117,005</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 8.875%, 2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >218,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >251,790</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 8.875%, 2024</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >89,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >102,573</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 8.25%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >55,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >60,775</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, 11%, 2040</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,458</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, FRN, 5.25%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,642,619</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,635,391</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Brazil, FRN, 5.1875%, 2024</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >115,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >112,700</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Government
      of Jamaica, 10.625%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >34,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >38,505</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Algeria, FRN, 4.8125%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,333</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,327</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Algeria, FRN, 4.8125%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >85,400</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >85,187</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Argentina, 2%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >ARS</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >57,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,392</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Argentina, 8.28%, 2033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >17,424</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,543</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Argentina, FRN, 4.005%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,320,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,044,780</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Bulgaria, 8.25%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >28,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >33,496</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Colombia, 11.75%, 2020</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,275</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Colombia, 8.125%, 2024</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >11,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >12,210</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Colombia, FRN, 6.1422%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >763,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >791,613</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Costa Rica, 9.995%, 2020</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >27,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >33,980</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Ecuador, 9%, 2030</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >13,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >12,545</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      El Salvador, 8.25%, 2032</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >42,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >47,460</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      El Salvador, 7.65%, 2035(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >15,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >16,031</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Guatemala, 8.125%, 2034(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >24,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >26,880</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Republic of
      Guatemala, 8.125%, 2034(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >11,200</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>4</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_6></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Emerging Market Sovereign &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Indonesia, 7.25%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,523</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Panama, 9.375%, 2029</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >745,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >964,775</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Panama, 6.7%, 2036</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >18,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >17,892</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Peru, 5%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >38,220</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >36,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Philippines, 8%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >747,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >786,218</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Philippines, 9.375%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >168,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >192,990</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Philippines, 9.875%, 2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >40,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >47,550</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Philippines, 9.5%, 2030</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >58,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >67,788</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Philippines, 7.75%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >479,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >472,414</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      South Africa, 9.125%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >477,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >533,048</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Turkey, 7.25%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >66,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >69,135</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Turkey, 7%, 2020</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >37,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >37,370</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Turkey, 8%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >154,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >167,860</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Uruguay, 7.5%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >49,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >51,450</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Venezuela, 8.5%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >198,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >221,859</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Venezuela, 9.25%, 2027</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >20,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >25,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Venezuela, 9.375%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >81,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >101,048</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Vietnam, 3.75%, 2028</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >16,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >13,200</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Republic of
      Vietnam, FRN, 4.8125%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >12,783</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >12,532</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Russian
      Federation, 3%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,982,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,884,287</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Russian
      Federation, 3%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,380,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,240,275</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Russian
      Federation, 11%, 2018</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >18,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >26,428</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>State of
      Qatar, 9.75%, 2030</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >181,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >276,478</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>United
      Mexican States, 6.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >759,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >803,781</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>United
      Mexican States, 6.625%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >131,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >141,480</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>United
      Mexican States, 8.125%, 2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >806,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >983,320</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>United
      Mexican States, 8.3%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >31,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >39,060</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,170,005</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Energy - Independent &#150; 1.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Chesapeake
      Energy Corp., 7.5%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >580,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >616,975</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Chesapeake
      Energy Corp., 6.875%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,495,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,524,900</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Forest Oil
      Corp., 7.75%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >995,125</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Newfield
      Exploration Co., 6.625%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >625,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >644,531</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Ocean
      Energy, Inc., 4.375%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >908,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >896,481</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Plains
      Exploration &amp; Production Co., 7.125%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,080,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,134,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Vintage
      Petroleum, Inc., 8.25%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,017,688</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,829,700</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Energy - Integrated &#150; 0.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Amerada Hess
      Corp., 7.3%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,555,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,808,342</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Entertainment &#150; 0.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>AMC
      Entertainment, Inc., 9.5%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >484,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >457,380</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>AMC
      Entertainment, Inc., 11%, 2016(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >275,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >276,375</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Six Flags,
      Inc., 9.75%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >475,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >486,281</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Turner
      Broadcasting System, Inc., 8.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >419,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >478,635</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,698,671</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><B><FONT
      face="Arial Narrow" size=2
     >Financial Institutions &#150; 1.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>American
      General Finance Corp., 4.875%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,752,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,668,826</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Berkshire
      Hathaway Finance Corp., 5.1%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,461,980</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>Capital One
      Bank, 4.25%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,296,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,264,816</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%"><FONT
      face="Arial Narrow" size=2>MBNA Europe
      Funding PLC, 6.5%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >150,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >189,780</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >8,585,402</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="52%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="52%">&nbsp;
    </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>5</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_7></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Food &amp; Non-Alcoholic Beverages &#150; 0.4%</FONT></B>&nbsp;
</TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Allied
      Domecq Financial Services PLC, 5.875%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >125,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >162,105</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>B&amp;G
      Foods Holding Corp., 8%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >330,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >339,488</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Chaoda
      Modern Agriculture Holdings, 7.75%, 2010(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >53,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >53,530</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Dean Foods
      Co., 6.625%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >485,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >495,913</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Smithfield
      Foods, Inc., 7%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >964,250</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,015,286</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Forest &amp; Paper Products &#150; 1.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2
     >Abitibi-Consolidated, Inc., 7.75%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,580,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,481,250</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Buckeye
      Technologies, Inc., 8.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >795,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >798,975</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2
     >International Paper Co., 5.375%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >140,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >172,488</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>MDP
      Acquisitions PLC, 9.625%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >640,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >660,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>MeadWestvaco
      Corp., 6.8%, 2032</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >679,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >671,651</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Norske Skog
      Canada Ltd., 7.375%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,210,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,064,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Packaging
      Corp. of America, 5.75%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,464,183</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Sino-Forest
      Corp., 9.125%, 2011(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>UPM Kymmene
      Corp., 6.125%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >134,374</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >7,459,321</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Gaming &amp; Lodging &#150; 3.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Aztar Corp.,
      7.875%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >765,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >793,688</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Boyd Gaming
      Corp., 6.75%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,140,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,120,050</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Caesars
      Entertainment, Inc., 8.125%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,520,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,675,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Grupo
      Posadas S.A. de C.V., 8.75%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >13,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >13,455</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>GTECH
      Holdings Corp., 5.25%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >515,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >534,109</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Harrah's
      Operating Co., Inc., 5.625%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,018,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >995,192</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Host
      Marriott LP, 7.125%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >977,313</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Host
      Marriott LP, 6.375%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >200,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >197,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Majestic
      Star Casino LLC, 9.5%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >170,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >181,475</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Mandalay
      Resort Group, 9.375%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,047,375</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>MGM Mirage,
      Inc., 8.375%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,530,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,719,750</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>NCL Corp.
      Ltd., 10.625%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,046,250</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Pinnacle
      Entertainment, Inc., 8.75%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >505,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >537,825</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Royal
      Caribbean Cruises Ltd., 8%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,730,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,881,576</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Royal
      Caribbean Cruises Ltd., 6.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >370,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >392,816</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Scientific
      Games Corp., 6.25%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >825,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >808,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Starwood
      Hotels &amp; Resorts Worldwide, Inc., 7.875%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,955,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,140,725</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Station
      Casinos, Inc., 6.5%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >870,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >867,825</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Wynn Las
      Vegas LLC, 6.625%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >486,875</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >18,418,099</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Industrial &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Amsted
      Industries, Inc., 10.25%, 2011(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >575,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >618,125</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2
     >JohnsonDiversey Holdings, Inc., 0% to 2007, 10.67% to
      2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >735,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >617,400</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Valmont
      Industries, Inc., 6.875%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,270,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,279,525</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,515,050</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Insurance &#150; 1.0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>ING Groep
      N.V., 5.775% to 2015, FRN to 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,512,203</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Prudential
      Financial, Inc., 5.1%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,985,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,958,770</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2
     >UnumProvident Corp., 7.625%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >470,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >506,717</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2
     >UnumProvident Corp., 6.85%, 2015(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >476,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >496,644</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,474,334</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Insurance - Property &amp; Casualty &#150; 0.9%</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>AIG
      SunAmerica Global Financing X, 6.9%, 2032(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,384,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,748,545</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>AIG
      SunAmerica Institutional Funding III, 3.5%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >100,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >122,161</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>6</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_8></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >Insurance - Property &amp; Casualty &#150;
      continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Allianz AG,
      5.5% to 2014, FRN to 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >140,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >183,451</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>AXIS Capital
      Holdings Ltd., 5.75%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >415,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >412,724</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Fund
      American Cos., Inc., 5.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,464,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,464,892</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%">&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,931,773</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >International Market Quasi-Sovereign &#150; 1.0%</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>KfW
      Bankengruppe, 4.75%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >750,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >922,734</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>KfW
      Bankengruppe, 2.328%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,678,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,040,778</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Landesbank
      Baden-Wurttemberg, FRN, 2.508%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >557,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >678,004</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Landesbank
      Baden-Wurttemberg, FRN, 2.594%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >521,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >634,202</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Landesbank
      Baden-Wurttemberg, FRN, 2.463%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >990,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,205,293</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Vattenfall
      Treasury AB, 6%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >125,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >167,189</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%">&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,648,200</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >International Market Sovereign &#150; 11.1%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Germany, 3.5%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,298,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,522,603</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Germany, 3.75%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,044,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,299,990</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Federal
      Republic of Germany, 6.25%, 2030</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >374,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >634,735</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Government
      of Australia, 6.25%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >AUD</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >397,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >319,581</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Government
      of Canada, 4.5%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >CAD</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >723,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >647,921</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Government
      of New Zealand, 6.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >NZD</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,379,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,541,351</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Government
      of New Zealand, 6%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >NZD</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,404,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >973,528</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Government
      of New Zealand, 6%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >NZD</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >997,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >692,950</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Kingdom of
      Netherlands, 5.75%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,240,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,809,626</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Kingdom of
      Netherlands, 3.75%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,649,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,290,079</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Kingdom of
      Spain, 6%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,476,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,185,292</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Kingdom of
      Spain, 5.35%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,817,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,444,899</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      Austria, 5.5%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,609,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,310,419</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      Finland, 5.375%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,262,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,862,948</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 4.75%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,716,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,888,892</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 4%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >215,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >269,691</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 5%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >400,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >532,864</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 4.75%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >480,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >633,446</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 5%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >207,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >284,978</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      France, 6%, 2025</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >204,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >327,069</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      Ireland, 4.25%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,564,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,676,881</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Republic of
      Ireland, 4.6%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >486,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >647,206</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>United
      Kingdom Treasury, 5.75%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >GBP</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,589,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,853,382</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>United
      Kingdom Treasury, 8%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >GBP</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,035,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,765,213</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%">&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >60,415,544</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >Machinery &amp; Tools &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Case New
      Holland, Inc., 6%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,200,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,179,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Manitowoc
      Co., Inc., 10.5%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >767,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >851,370</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Terex Corp.,
      9.25%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >570,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >608,475</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%">&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,638,845</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><B><FONT
      face="Arial Narrow" size=2
     >Medical &amp; Health Technology &amp; Services &#150;
      1.9%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2
     >AmerisourceBergen Corp., 5.875%, 2015(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,010,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,022,625</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Baxter
      International, Inc., 9.5%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,331,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,539,718</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>DaVita,
      Inc., 6.625%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >300,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >303,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>Fisher
      Scientific International, Inc., 6.125%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >655,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >655,819</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>HCA, Inc.,
      8.75%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,085,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,298,802</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%"><FONT
      face="Arial Narrow" size=2>HCA, Inc.,
      6.375%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,075,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,071,553</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="54%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="54%"
   ><FONT face="Arial Narrow" size=2
     >Omnicare, Inc., 6.875%,
      2015</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="18%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><FONT face="Arial Narrow" size=2
     >635,000</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><FONT face="Arial Narrow" size=2
     >635,794</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="54%">&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>7</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_9></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">&nbsp;</TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Medical &amp; Health Technology &amp; Services &#150;
      continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Triad
      Hospitals, Inc., 7%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >685,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >690,994</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,218,305</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Metals &amp; Mining &#150; 0.8%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Codelco,
      Inc., 5.625%, 2035(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >446,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >434,314</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Foundation
      PA Coal Co., 7.25%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,015,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,053,063</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Massey
      Energy Co., 6.875%, 2013(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >495,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >499,331</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Peabody
      Energy Corp., 5.875%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,220,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,195,600</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Peabody
      Energy Corp., "B", 6.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >340,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >351,900</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>U.S. Steel
      Corp., 9.75%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >795,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >866,550</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,400,758</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Mortgage Backed &#150; 0.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Fannie Mae,
      6%, 2016 - 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,253,487</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,281,334</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Fannie Mae,
      6.5%, 2031 - 2032</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,910,872</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,962,745</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,244,079</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Municipals &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Honolulu,
      HI, City &amp; County Rev., "A", MBIA, 5%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,520,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,746,901</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Natural Gas - Distribution &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>AmeriGas
      Partners LP, 7.25%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,030,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,032,575</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Natural Gas - Pipeline &#150; 2.0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>ANR Pipeline
      Co., 8.875%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >440,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >470,694</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Atlas
      Pipeline Partners LP, 8.125%, 2015(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >470,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >484,100</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>CenterPoint
      Energy Resources Corp., 7.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,419,759</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Colorado
      Interstate Gas Co., 5.95%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >365,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >357,224</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Enterprise
      Products Operating LP, 6.65%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,000,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,031,193</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Kinder
      Morgan Energy Partners LP, 7.4%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,775,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,157,212</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Magellan
      Midstream Partners LP, 5.65%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,123,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,120,219</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Southern
      Natural Gas Co., Inc., 8.875%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,040,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,112,549</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Williams
      Cos., Inc., 8.75%, 2032</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,785,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10,937,950</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Network &amp; Telecom &#150; 4.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>AT&amp;T
      Corp., 7.3%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >450,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >495,901</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>AT&amp;T
      Corp., 9.75%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,715,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,120,457</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Axtel S.A.
      de C.V., 11%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >17,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,040</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>BellSouth
      Corp., 6.55%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,213,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,350,516</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Citizens
      Communications Co., 9.25%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,785,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,963,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Citizens
      Communications Co., 6.25%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,420,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,377,400</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Deutsche
      Telekom International Finance B.V., 8.125%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >130,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >194,620</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Deutsche
      Telekom International Finance B.V., 8.25%, 2030</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,477,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,842,652</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Eircom
      Funding PLC, 8.25%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,130,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,203,450</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Espirit
      Telecom Group PLC, 10.875%, 2008(d)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >165,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>France
      Telecom S.A., 7.2%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >105,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >105,187</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>OTE
      Telecommunications PLC, 6.125%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >195,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >244,811</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Qwest Corp.,
      7.875%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,890,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,998,675</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Qwest Corp.,
      8.875%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,052,125</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Telecom
      Italia Capital, 6%, 2034</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,020,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,912,782</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Verizon New
      York, Inc., 7.375%, 2032</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,590,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,802,549</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >22,683,665</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><B><FONT
      face="Arial Narrow" size=2
     >Oil Services &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>GulfMark
      Offshore, Inc., 7.75%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >760,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >794,200</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%"><FONT
      face="Arial Narrow" size=2>Petroleum
      Export Peloil, 5.265%, 2011(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >353,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >348,870</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="56%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="16%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="56%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="16%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
   ><FONT face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><FONT face="Arial Narrow" size=2
     >1,143,070</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="56%">&nbsp;
    </TD>
    <TD noWrap align=right width="16%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>8</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_10></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="55%"
   ><B><FONT face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp;
</TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="17%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><B><FONT face="Arial Narrow" size=2

     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><B><FONT face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     ><BR>Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Oils &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Premcor
      Refining Group, Inc., 7.5%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,575,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,742,573</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Pharmaceuticals &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2
     >Schering-Plough Corp., 6.75%, 2033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,002,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,119,698</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Pollution Control &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Allied Waste
      North America, Inc., 7.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >775,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >804,063</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Veolia
      Environnement, 5.875%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >322,485</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,126,548</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Precious Metals &amp; Minerals &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2
     >Freeport-McMoRan Copper &amp; Gold, Inc., 6.875%,
      2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >28,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >28,385</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Printing &amp; Publishing &#150; 0.6%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Bertelsmann
      U.S. Finance, Inc., 4.625%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >148,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >186,251</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Dex Media
      East LLC, 9.875%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,235,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,333,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Dex Media
      West LLC, 9.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >567,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >625,826</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MediaNews
      Group, Inc., 6.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >895,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >841,300</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Pearson PLC,
      6.125%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >135,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >169,266</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Reed
      Elsevier Capital, Inc., 5.75%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >125,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >160,679</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,317,122</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Railroad &amp; Shipping &#150; 0.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Societe
      Nationale des Chemins de Fer Francais, 7.5%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >750,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >996,463</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>TFM S.A. de
      C.V., 10.25%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >21,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >22,155</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>TFM S.A. de
      C.V., 9.375%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >817,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >898,700</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>TFM S.A. de
      C.V., 12.5%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >325,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >368,875</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,286,193</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Real Estate &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Simon
      Property Group LP, 4.6%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,375,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,340,204</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Retailers &#150; 1.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Couche-Tard,
      Inc., 7.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >365,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >378,688</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Gap, Inc.,
      9.55%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,710,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,994,856</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>GSC Holdings
      Corp., 8%, 2012(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >270,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >262,238</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Limited
      Brands, Inc., 5.25%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,294,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,151,299</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Rite Aid
      Corp., 8.125%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >635,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >647,700</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,434,781</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Specialty Stores &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>LVMH Moet
      Hennessy Louis Vuitton S.A., 4.625%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >125,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >158,433</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Steel &#150; 0.1%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Chaparral
      Steel Co., 10%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >445,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >489,500</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Supermarkets &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Safeway,
      Inc., 6.5%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,567,378</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Supranational &#150; 0.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Central
      American Bank, 4.875%, 2012(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >721,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >694,340</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>European
      Investment Bank, 5.375%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >750,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,020,133</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2
     >Inter-American Development Bank, 8%, 2016 (r)</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >MXN</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >264,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >24,870</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,739,343</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Telecommunications - Wireless &#150; 1.0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>America
      Movil S.A. de C.V., 6.375%, 2035</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >38,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >36,566</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Centennial
      Communications Corp., 10.125%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >520,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >569,400</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Dolphin
      Telecom PLC, 11.5%, 2008(d)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,515,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Mobile
      TeleSystems Finance S.A., 8.375%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,950</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Nextel
      Communications, Inc., 5.95%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,760,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,779,585</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     ><BR>9</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_11></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MFS Multimarket Income
      Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="55%"
   ><B><FONT face="Arial Narrow" size=2
     >Telecommunications -
      Wireless &#150; continued</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="17%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   >&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2><BR>Rogers
      Wireless, Inc., 6.375%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >954,750</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Rogers
      Wireless, Inc., 7.5%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >980,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,063,300</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Vodafone
      Group PLC, 5.75%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >140,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >173,873</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,597,424</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Tobacco &#150; 0.5%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Altria
      Group, Inc., 5.625%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >75,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >95,702</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>R.J.
      Reynolds Tobacco Holdings, Inc., 7.25%, 2012</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,508,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,570,700</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,666,402</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Transportation - Services &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Stena AB,
      7%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >812,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >753,130</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Westinghouse
      Air Brake Technologies Corp., 6.875%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >455,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >467,513</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,220,643</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >U.S. Government Agencies &#150; 4.4%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Freddie Mac,
      4.2%, 2007</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,300,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >14,145,374</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Freddie Mac,
      4.375%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >8,830,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >8,490,345</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Small
      Business Administration, 5.34%, 2021</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,359,787</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,380,131</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >24,015,850</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >U.S. Treasury Obligations &#150; 10.9%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>U.S.
      Treasury Bonds, 5.375%, 2031</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,975,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,174,197</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>U.S.
      Treasury Notes, 6.5%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >49,864,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >53,475,251</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>U.S.
      Treasury Notes, TIPS, 3.625%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,359</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,405</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>U.S.
      Treasury Notes, TIPS, 3.875%, 2009</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >3,807,195</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,027,297</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>U.S.
      Treasury Notes, TIPS, 4.25%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,882</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,053</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >59,680,203</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><B><FONT
      face="Arial Narrow" size=2
     >Utilities - Electric Power &#150; 6.3%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Allegheny
      Energy Supply Co., LLC, 8.25%, 2012(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,180,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,309,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Beaver
      Valley Funding Corp., 9%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >4,599,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,314,696</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>BVPS II
      Funding Corp., 8.68%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >775,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >885,988</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>CenterPoint
      Energy, Inc., 7.25%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,336,664</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>CMS Energy
      Corp., 8.5%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >620,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >673,475</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>DPL, Inc.,
      6.875%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,546,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,646,490</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Duke Capital
      Corp., 8%, 2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >691,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >819,982</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Dynegy
      Holdings, Inc., 9.875%, 2010(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >410,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >448,950</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Empresa
      Nacional de Electricidad S.A., 8.35%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,637</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Enersis
      S.A., 7.375%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,044,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,113,362</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>FirstEnergy
      Corp., 6.45%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,215,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,277,280</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>HQI
      Transelec Chile S.A., 7.875%, 2011</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >350,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >384,062</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MidAmerican
      Energy Holdings Co., 3.5%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,437,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,345,807</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>MSW Energy
      Holdings LLC, 7.375%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,045,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,076,350</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>National
      Grid Group Finance PLC, 5.25%, 2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >200,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >246,504</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Nevada Power
      Co., 5.875%, 2015</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,965,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,953,601</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>NorthWestern
      Corp., 5.875%, 2014</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,695,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,682,947</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>NRG Energy,
      Inc., 8%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >433,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >482,795</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>NRG Energy,
      Inc., 7.375%, 2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,715,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,745,013</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Reliant
      Resources, Inc., 9.25%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >490,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >483,875</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>Reliant
      Resources, Inc., 9.5%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >20,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,800</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>RWE Finance
      B.V., 5.375%, 2008</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >6,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >7,629</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>System
      Energy Resources, Inc., 5.129%, 2014(a)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,371,044</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,277,578</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%"><FONT
      face="Arial Narrow" size=2>TECO Energy,
      Inc., 7.5%, 2010</FONT>&nbsp; </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >950,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,016,479</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="55%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="55%"
   ><FONT face="Arial Narrow" size=2
     >Texas Genco LLC, 6.875%,
      2014(a)</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="17%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><FONT face="Arial Narrow" size=2
     >600,000</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="11%"
   ><FONT face="Arial Narrow" size=2
     >649,500</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="55%">&nbsp;
    </TD>
    <TD noWrap align=right width="17%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >10</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_12></A>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     >&nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >MFS Multimarket Income Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="70%" colSpan=4
     ><FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="39%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Bonds &#150; continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Utilities - Electric Power &#150;
      continued</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp;</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >TXU Energy Co., 7%, 2013</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,670,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >2,825,901</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Waterford 3 Funding Corp., 8.09%, 2017</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,907,493</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >2,011,891</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >34,042,056</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="39%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Total Bonds</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >525,298,651</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="39%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Stocks &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Printing &amp; Publishing &#150; 0%</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Golden Books Family Entertainment, Inc.(n)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >19,975</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Tobacco &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Reynolds American, Inc.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >2,302</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >232,801</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Total Stocks</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >232,801</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Convertible Preferred Stock &#150;
      0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Automotive &#150; 0.2%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >General Motors Corp., 5.25%</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >55,125</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >910,665</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Preferred Stock &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Real Estate &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >HRPT Properties Trust, "B", 8.75%</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,100</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >130,560</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Warrants &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%"><B><FONT
      face="Arial Narrow" size=2
     >Strike Price</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%"><B><FONT
      face="Arial Narrow" size=2
     >First Exercise</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Loral Space &amp; Communications Ltd. (Business
      Services)(n)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%"><FONT
      face="Arial Narrow" size=2>$
      0.14</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >1/28/97</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,625</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Loral Space &amp; Communications Ltd. (Business
      Services)(n)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%"><FONT
      face="Arial Narrow" size=2
     >0.14</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >1/28/97</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >700</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Total Warrants</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Convertible Bond &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Banks &amp; Credit Companies &#150;
      0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Fortis Capital Co., 6.25%, 2049</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >155,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2>203,905
      $</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Par Amount</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Issue/Expiration/Strike Price</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >of Contracts</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><B><FONT
      face="Arial Narrow" size=2
     >Value($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Call Options Purchased &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >U.S. Treasury Notes 10yr Future &#150; May 2006 @
      $109</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >105,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >86,953</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Put Options Purchased &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >U.S. Treasury Notes 10yr Future &#150; May 2006 @
      $109</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >105,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >155,859</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Federal Republic of Brazil - February 2006 @
      $125.35</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >600,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Federal Republic of Brazil - February 2006 @
      $129.70</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >60,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >1,260</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Total Put Options Purchased</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >157,119</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%"><B><FONT
      face="Arial Narrow" size=2
     >Issuer</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><B><FONT
      face="Arial Narrow" size=2
     >Shares/Par</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><B><FONT
      face="Arial Narrow" size=2
     >Value ($)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="39%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Short-Term Obligation &#150; 1.1%</FONT></B>&nbsp;
</TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Alpine Securitization Corp., 4.48%, due
      2/01/06(y)(t)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >5,697,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >5,697,000</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Rights &#150; 0%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Emerging Market Sovereign &#150; 0%</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Banco Central del Uruguay(n)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%"><FONT
      face="Arial Narrow" size=2
     >1,250,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >0</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noshade size=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Total Investments(k)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >532,717,654</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >Other Assets, Less Liabilities </FONT></B><FONT
      face="Arial Narrow" size=2>&#150;
      </FONT><B><FONT face="Arial Narrow" size=2
     >2.1%</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >11,194,725</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="45%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Net Assets &#150; 100.0%</FONT>&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >543,912,379</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="45%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="12%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="11%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >(t)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="94%" colSpan=6>&nbsp;
      &nbsp; <FONT face="Arial Narrow" size=2
     >Security exempt from registration with the U.S. Securities
      and Exchange Commission under Section 4(2) of the Securities</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="6%">&nbsp;
    </TD>
    <TD noWrap align=left width="39%">&nbsp; &nbsp; <FONT
      face="Arial Narrow" size=2>Act of
      1933.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="12%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD>
    <TD noWrap align=left width="11%">&nbsp;</TD>
    <TD noWrap align=left width="6%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >(n)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="39%">&nbsp; &nbsp; <FONT
      face="Arial Narrow" size=2>Non-income
      producing security.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="12%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD>
    <TD noWrap align=left width="11%">&nbsp;</TD>
    <TD noWrap align=left width="6%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >(a)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="39%">&nbsp; &nbsp; <FONT
      face="Arial Narrow" size=2>SEC Rule
      144A restriction.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="12%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD>
    <TD noWrap align=left width="11%">&nbsp;</TD>
    <TD noWrap align=left width="6%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="6%"><FONT
      face="Arial Narrow" size=2
     >(y)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="51%" colSpan=2>&nbsp; &nbsp;
      <FONT face="Arial Narrow" size=2>The
      rate shown represents an annualized yield at time of
      purchase.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="13%">&nbsp;</TD>
    <TD noWrap align=left width="11%">&nbsp;</TD>
    <TD noWrap align=left width="6%">&nbsp;</TD>
    <TD noWrap align=left width="13%">&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=right width="39%">&nbsp; </TD>
    <TD noWrap align=right width="12%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="11%">&nbsp; </TD>
    <TD noWrap align=right width="6%">&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     ><BR>11</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_13></A>
<TABLE cellSpacing=1 cellPadding=0 width=700 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="36%" colSpan=3
     >&nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >MFS Multimarket Income Trust</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=6
     >&nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >PORTFOLIO OF INVESTMENTS (Unaudited) 01/31/2006 -
      continued</FONT>&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >(k)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="95%" colSpan=7><FONT
      face="Arial Narrow" size=2>As of
      January 31, 2006, the trust had three securities representing $0 that were
      fair valued in accordance with the policies</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
    </TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>adopted by
      the Board of Trustees.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow"
      size=2>(i)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="95%" colSpan=7><FONT
      face="Arial Narrow" size=2>Interest
      only security for which the trust receives interest on notional principal
      (Par amount). Par amount shown is the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
    </TD>
    <TD noWrap align=left width="58%" colSpan=4><FONT
      face="Arial Narrow" size=2>notional
      principal and does not reflect the cost of the security.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >(d)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="45%" colSpan=3><FONT
      face="Arial Narrow" size=2>Non-income
      producing security - in default.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=right width="5%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="Arial Narrow" size=2
     >(r)</FONT>&nbsp; </TD>
    <TD noWrap align=left width="95%" colSpan=7><FONT
      face="Arial Narrow" size=2>Restricted
      securities (excluding 144A issues) are not registered under the Securities
      Act of 1933 and are subject to legal or</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="95%" colSpan=7><FONT
      face="Arial Narrow" size=2>contractual
      restrictions on resale. These securities generally may be resold in
      transactions exempt from registration or to the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="95%" colSpan=7><FONT
      face="Arial Narrow" size=2>public if
      the securities are registered. Disposal of these securities may involve
      time-consuming negotiations and prompt sale</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="67%" colSpan=5><FONT
      face="Arial Narrow" size=2>at an
      acceptable price may be difficult. The trust holds the following
      restricted securities:<BR></FONT>&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; </TD>
    <TD noWrap align=center width="14%"><B><FONT
      face="Arial Narrow" size=2
     >Acquisition</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="13%"><B><FONT
      face="Arial Narrow" size=2
     >Acquisition</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="17%" colSpan=2><B><FONT
      face="Arial Narrow" size=2
     >Current</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%"><B><FONT
      face="Arial Narrow" size=2
     >Total % of</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><B><FONT
      face="Arial Narrow" size=2
     >Restricted Security</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="14%"><B><FONT
      face="Arial Narrow" size=2
     >Date</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="13%"><B><FONT
      face="Arial Narrow" size=2
     >Cost</FONT></B>&nbsp; </TD>
    <TD noWrap align=center width="17%" colSpan=2><B><FONT
      face="Arial Narrow" size=2
     >Market Value</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="20%"><B><FONT
      face="Arial Narrow" size=2>Net
      Assets</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="5%">
      <HR noShade SIZE=1>
    </TD>
    <TD align=left width="31%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="14%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="17%" colSpan=2>
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>Airplane
      Pass-Through Trust, "D",</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>10.875%,
      2019</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >3/13/1996</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$246,925</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2>-</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>Inter-American
      Development Bank,</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>8%,
      2016</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >1/20/2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >$24,931</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >24,870</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD align=left width="31%" colSpan=2></TD>
    <TD width="14%"></TD>
    <TD width="13%"></TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="8%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="31%" colSpan=2><FONT
      face="Arial Narrow" size=2>Total Restricted
      Securities</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >24,870</FONT>&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >0.00%</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="5%"></TD>
    <TD align=left width="31%" colSpan=2></TD>
    <TD width="14%"></TD>
    <TD width="13%"></TD>
    <TD width="9%">
      <HR noshade size=1>
    </TD>
    <TD width="8%">
      <HR noshade size=1>
    </TD>
    <TD width="20%">
      <HR noshade size=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="63%" colSpan=5
     ><FONT face="Arial Narrow" size=2
     >The following abbreviations are used in the Portfolio of
      Investments and are defined:</FONT>&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp; <FONT
      face="Arial Narrow" size=2>TIPS</FONT></TD>
    <TD noWrap align=left width="37%" colSpan=2><FONT
      face="Arial Narrow" size=2>Treasury
      Inflation Protected Security</FONT>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="8%">&nbsp;<FONT
      face="Arial Narrow" size=2>FRN</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="59%" colSpan=4><FONT
      face="Arial Narrow" size=2>Floating
      Rate Note. The interest rate is the rate in effect as of period
      end.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%"></TD>
    <TD noWrap align=left width="8%">&nbsp;<FONT
      face="Arial Narrow" size=2>Insurer</FONT>&nbsp;&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR>
    <TD width="5%">
      <HR noShade SIZE=1>
    </TD>
    <TD align=left width="8%">
      <HR noShade SIZE=1>
    </TD>
    <TD align=left width="23%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="14%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="13%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="9%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="8%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="20%">
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;</TD>
    <TD noWrap align=left width="8%">&nbsp; <FONT
      face="Arial Narrow" size=2>MBIA</FONT>&nbsp;</TD>
    <TD noWrap align=left width="23%"><FONT
      face="Arial Narrow" size=2>MBIA
      Insurance Corp.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=8
     ><FONT face="Arial Narrow" size=2
     ><BR>Abbreviations have been used throughout this report to
      indicate amounts shown in currencies other than the U.S. dollar. All
      amounts</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="72%" colSpan=6
     ><FONT face="Arial Narrow" size=2
     >are stated in U.S. dollars unless otherwise indicated. A list
      of abbreviations is shown below:</FONT>&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >ARS</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Argentine
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >AUD</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Australian
      Dollar</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >BRL</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Brazilian
      Real</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >CAD</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Canadian
      Dollar</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >CLP</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Chilean
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >CNY</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Chinese Yuan
      Renminbi</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >COP</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Colombian
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >CZK</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Czech
      Koruna</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >DKK</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Danish
      Krone</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >EUR</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2
     >Euro</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >GBP</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>British
      Pound</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >HUF</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Hungarian
      Forint</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >IDR</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Indonesian
      Rupiah</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >ILS</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Israeli
      Sheqel</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >INR</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Indian
      Rupee</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >JPY</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Japanese
      Yen</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >KRW</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Korean
      Won</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >MXN</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Mexican
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >NOK</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Norwegian
      Krone</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >NZD</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>New Zealand
      Dollar</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >PHP</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Philippine
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >RUB</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Russian
      Ruble</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >SKK</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Slovakian
      Koruna</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >TRY</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Turkish
      Lira</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >UYU</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>Uruguayan
      Peso</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >ZAR</FONT>&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; <FONT
      face="Arial Narrow" size=2>South
      African Rand</FONT>&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="100%" colSpan=8
     ><FONT face="Arial Narrow" size=2
     ><BR>See attached schedules. For more information see notes to
      financial statements as disclosed in the most recent semiannual or
      annual</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%"><FONT
      face="Arial Narrow" size=2
     >report.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="8%">&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="5%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp; </TD>
    <TD noWrap align=left width="23%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="9%">&nbsp; </TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="20%"><FONT
      face="Arial Narrow" size=2
     >12</FONT>&nbsp; </TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_14></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     >MFS Multimarket Income
      Trust</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" colSpan=3
     ><B><FONT face="Arial Narrow" size=2
     >Supplemental Schedules (Unaudited)
      1/31/2006</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     ><BR>(1) Portfolio
      Securities</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=12
     ><FONT face="Arial Narrow" size=2
     >The cost and unrealized appreciation and depreciation in
      the value of the investments owned by the trust, as computed
      on</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" colSpan=3
     ><FONT face="Arial Narrow" size=2
     >a federal income tax basis, are as follows:</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Aggregate Cost</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-BOTTOM: #400040 2pt double" noWrap align=right width="2%"
   ><FONT face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 2pt double" noWrap align=right width="14%"
   ><FONT face="Arial Narrow" size=2
     >535,597,971</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Gross unrealized appreciation</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >10,785,332</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >Gross unrealized depreciation</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(13,665,649)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=right width="36%" colSpan=2><FONT
      face="Arial Narrow" size=2>Net unrealized
      appreciation (depreciation)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="2%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="14%"><FONT face="Arial Narrow"
      size=2>(2,880,317)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" colSpan=6
     ><FONT face="Arial Narrow" size=2
     ><BR>Aggregate cost includes prior fiscal year end tax
      adjustments.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><B><FONT face="Arial Narrow" size=2
     ><BR>(2) Financial
      Instruments</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="38%" colSpan=3
     ><B><FONT face="Arial Narrow" size=2
     >Forward Foreign Currency Exchange
      Contracts</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" colSpan=6
     ><FONT face="Arial Narrow" size=2
     >Sales and Purchases in the table below are reported by
      currency.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=center width="15%" colSpan=2><B><FONT
      face="Arial Narrow" size=2>Net
      Unrealized</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=left width="18%"><B><FONT
      face="Arial Narrow" size=2
     >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contracts
      to</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=center width="14%"><B><FONT
      face="Arial Narrow" size=2
     >Contracts</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=center width="15%" colSpan=2>&nbsp;
      <B><FONT face="Arial Narrow" size=2
     >Appreciation</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=left width="18%"><B><FONT
      face="Arial Narrow" size=2
     >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deliver/Receive</FONT></B>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><B><FONT
      face="Arial Narrow" size=2
     >Settlement Date</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="16%" colSpan=2>&nbsp;
      <B><FONT face="Arial Narrow" size=2
     >In Exchange For</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=center width="14%"><B><FONT
      face="Arial Narrow" size=2>at
      Value</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=center width="15%" colSpan=2><B><FONT
      face="Arial Narrow" size=2
     >(Depreciation)</FONT></B>&nbsp; </TD></TR>
  <TR>
    <TD width="2%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="18%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="6%" background=""></TD>
    <TD width="1%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="15%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="5%" background=""></TD>
    <TD width="2%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="14%">
      <HR noShade SIZE=1>
    </TD>
    <TD width="3%" background=""></TD>
    <TD width="15%" colSpan=2>
      <HR noShade SIZE=1>
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"
     ><B><U><FONT face="Arial Narrow" size=2
     >Sales</FONT></U></B>&nbsp;
    </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>AUD</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >638,451&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/6/06-2/7/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >474,066</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >482,876</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(8,810)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>BRL</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >128,052&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/2/06-2/23/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >57,595</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >57,901</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(306)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>EUR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >54,419,339&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06-3/27/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >63,991,472</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >66,333,487</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(2,342,015)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>GBP</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >5,386,541&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >3/30/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >9,610,721</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >9,609,261</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >1,460</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>IDR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >385,852,603&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/6/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >40,983</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >41,133</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(150)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>JPY</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >575,659&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >5,040</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >4,930</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>110</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>KRW</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >4,968,091&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >5,084</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >5,177</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>(93)</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>MXN</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >465,105&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/27/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >44,172</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >44,437</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(265)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>NZD</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >11,110,927&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/7/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >7,839,689</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >7,612,215</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >227,474</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>TRY</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >65,720&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/7/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >48,111</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >49,536</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(1,425)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>ZAR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >455,044&nbsp;&nbsp;&nbsp; </FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/21/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >75,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >74,844</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>156</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="1%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="15%"><FONT face="Arial Narrow"
      size=2>82,191,933</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="2%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="14%"><FONT face="Arial Narrow"
      size=2>84,315,797</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="1%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="14%"><FONT face="Arial Narrow"
      size=2>(2,123,864)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="20%" colSpan=2
     ><B><U><FONT face="Arial Narrow" size=2

     >Purchases</FONT></U></B>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>AUD</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >962,110</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/6/06-2/7/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >722,388</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >727,663</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >5,275</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>BRL</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >383,182</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/2/06-2/24/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >166,436</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >173,260</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >6,824</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>CAD</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >567,121</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >3/20/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >489,341</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >497,229</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >7,888</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>CLP</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >88,813,183</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06-2/23/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >169,374</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >168,668</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(706)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>CNY</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >1,794,375</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/27/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >225,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >223,340</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(1,660)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>COP</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >232,500,000</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/21/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >102,468</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >102,548</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>80</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>CZK</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >10,672,326</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >436,496</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >458,288</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >21,792</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>DKK</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >450,944</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >3/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >73,564</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >73,725</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>161</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>EUR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >3,755,094</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06-3/20/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >4,520,711</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >4,577,328</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >56,617</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>HUF</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >12,025,200</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/17/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >58,301</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >58,098</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(203)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>IDR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >512,120,505</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/6/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >52,933</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >54,593</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >1,660</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>ILS</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >430,750</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/21/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >93,210</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >92,344</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >(866)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%"><FONT
      face="Arial Narrow" size=2>INR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2,208,500</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/28/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >50,057</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     >50,133</FONT>&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2>76</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="2%">&nbsp;
</TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="2%">&nbsp; </TD>
    <TD noWrap align=right width="14%">&nbsp; </TD>
    <TD noWrap align=right width="3%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="14%"><FONT
      face="Arial Narrow" size=2
     ><BR>13</FONT>&nbsp;
</TD></TR></TABLE><BR><!--$$/page=--><p style="page-break-before: always"></p><A name=page_15></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
>

  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>JPY</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >575,659</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >5,033</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""
BASEALIGN="right">&nbsp;</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >4,930</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >(103)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>KRW</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >4,968,091</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >5,040</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""
BASEALIGN="right">&nbsp;</TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >5,177</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2>137</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>MXN</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >5,609,491</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/8/06-2/27/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >524,481</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >536,848</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >12,367</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>NOK</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >8,716,124</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >3/13/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >1,318,059</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >1,314,915</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >(3,144)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>NZD</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >5,828,741</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/7/06-3/20/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >3,948,746</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >3,984,704</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >35,958</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>PHP</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >5,545,500</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/17/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >105,749</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >106,376</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2>627</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>RUB</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >2,854,500</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/21/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >101,116</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >101,493</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2>377</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>SKK</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >5,058,966</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/10/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >162,982</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >164,941</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >1,959</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>TRY</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >659,040</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/7/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp;</TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >480,825</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >496,744</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >15,919</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><FONT
      face="Arial Narrow" size=2>ZAR</FONT>&nbsp;
    </TD>
    <TD noWrap align=right width="13%"><FONT
      face="Arial Narrow" size=2
     >1,576,777</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >2/21/06</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >258,976</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2
     >259,342</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-TOP-STYLE: solid; BORDER-TOP-COLOR: #ffffff" noWrap
    align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2>366</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="1%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="15%"><FONT face="Arial Narrow"
      size=2>14,071,286</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""
BASEALIGN="right">&nbsp;</TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="1%" background=""><FONT
      face="Arial Narrow" size=2>$</FONT></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="8%"><FONT face="Arial Narrow"
      size=2>14,232,687</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="1%"><FONT face="Arial Narrow"
      size=2>$</FONT>&nbsp; </TD>
    <TD style="BORDER-TOP: #400040 1pt solid; BORDER-BOTTOM: #400040 2pt double"
    noWrap align=right width="18%"><FONT face="Arial Narrow"
      size=2>161,401</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=12
     ><FONT face="Arial Narrow" size=2
     >At January 31, 2006, forward foreign currency purchases
      and sales under master netting agreements excluded above</FONT>&nbsp;
  </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="60%" colSpan=6
     ><FONT face="Arial Narrow" size=2
     >amounted to a net payable of $113,197 with Merrill Lynch
      International.</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%"><B><FONT
      face="Arial Narrow" size=2
     >Futures Contracts</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><B><FONT
      face="Arial Narrow" size=2
     >Unrealized</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><B><FONT
      face="Arial Narrow" size=2
     >Expiration</FONT></B>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><B><FONT
      face="Arial Narrow" size=2
     >Appreciation</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="8%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="13%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="18%"
   ><B><FONT face="Arial Narrow" size=2
     >Contracts</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="5%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="15%"
   ><B><FONT face="Arial Narrow" size=2
     >Value</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="8%"
   ><B><FONT face="Arial Narrow" size=2
     >Date</FONT></B>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="5%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="18%"
   ><B><FONT face="Arial Narrow" size=2
     >(Depreciation)</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="21%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >U.S. Treasury Note 10 yr (Long)</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2>1</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="15%"><FONT
      face="Arial Narrow" size=2
     >108,437</FONT>&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%"><FONT
      face="Arial Narrow" size=2>March
      2006</FONT>&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%"><FONT
      face="Arial Narrow" size=2>$</FONT>&nbsp;
</TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >(675)</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="21%"
    colSpan=2><FONT face="Arial Narrow" size=2
     >U.S. Treasury Note 10 yr
      (Short)</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="18%"
   ><FONT face="Arial Narrow" size=2
     >74</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="5%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="15%"
   ><FONT face="Arial Narrow" size=2
     >8,024,375</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="6%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="8%"
   ><FONT face="Arial Narrow" size=2
     >March 2006</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="5%"
    background="">&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="1%"
   >&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=right width="18%"
   ><FONT face="Arial Narrow" size=2
     >78,366</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD style="BORDER-BOTTOM: #400040 2pt double" noWrap align=right width="1%"
   ><FONT face="Arial Narrow" size=2
     >$</FONT>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 2pt double" noWrap align=right width="18%"
   ><FONT face="Arial Narrow" size=2
     >77,691</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=12
     ><FONT face="Arial Narrow" size=2
     >At January 31, 2006, the trust had sufficient cash and/or
      securities to cover any margin requirements under these
      contracts.</FONT>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="21%" colSpan=2
     ><FONT face="Arial Narrow" size=2
     >MFS Investment Management&#174;</FONT>&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR>
    <TD width="99%" colSpan=12>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=right width="13%">&nbsp; </TD>
    <TD noWrap align=right width="18%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="15%">&nbsp; </TD>
    <TD noWrap align=right width="6%" background=""></TD>
    <TD noWrap align=right width="1%" background=""></TD>
    <TD noWrap align=right width="8%">&nbsp; </TD>
    <TD noWrap align=right width="5%" background=""></TD>
    <TD noWrap align=right width="1%">&nbsp; </TD>
    <TD noWrap align=right width="18%"><FONT
      face="Arial Narrow" size=2
     >14</FONT>&nbsp;
</TD></TR></TABLE><BR>

<p style="page-break-before: always"></p>
<TABLE cellSpacing=1 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" background="" colSpan=2
   ><FONT size=3><FONT face="Times New Roman"><B><BR>ITEM
      2.</B>&nbsp; </FONT></FONT><FONT size=3><FONT
      face="Times New Roman"><B>CONTROLS AND PROCEDURES.</B>&nbsp;
    </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   >(a)</TD>
    <TD noWrap align=left width="96%">&nbsp;
      <FONT size=3><FONT face="Times New Roman"><BR>&nbsp;Based upon their
      evaluation of the registrant&#146;s disclosure controls and procedures
      (as&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">defined
      in Rule 30a-3(c) under the Investment Company Act of 1940 (the &#147;Act&#148;))
      as&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT
      face="Times New Roman">conducted within 90 days of the filing date of this
      Form N-Q, the registrant&#146;s principal&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT
      face="Times New Roman">financial officer and principal executive officer
      have concluded that those disclosure&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">controls
      and procedures provide reasonable assurance that the material
      information&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">required
      to be disclosed by the registrant on this report is recorded,
      processed,&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT
      face="Times New Roman">summarized and reported within the time periods
      specified in the Securities and Exchange&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT
      face="Times New Roman">Commission&#146;s rules and forms.&nbsp; </FONT></FONT>
      <P>&nbsp;</P></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   >(b)</TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">There
      were no changes in the registrant&#146;s internal controls over financial
      reporting (as&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">defined
      in Rule 30a-3(d) under the Act) that occurred during the registrant&#146;s last
      fiscal&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT face="Times New Roman">quarter
      that have materially affected, or are reasonably likely to materially
      affect, the&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%" background=""
   ></TD>
    <TD noWrap align=left width="96%"
     >&nbsp;<FONT size=3><FONT
      face="Times New Roman">registrant&#146;s internal control over financial
      reporting.&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" background="" colSpan=2
   ><FONT size=3><FONT face="Times New Roman"><B><BR>ITEM
      3.</B>&nbsp; </FONT></FONT><FONT size=3><FONT
      face="Times New Roman"><B>EXHIBITS.</B>&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" background="" colSpan=2
   ><FONT size=3><FONT face="Times New Roman"><BR>File as
      exhibits as part of this Form a separate certification for each principal
      executive officer&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" background="" colSpan=2
   ><FONT size=3><FONT face="Times New Roman">and principal
      financial officer of the registrant as required by Rule 30a-2(a) under the
      Act (17&nbsp; </FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" background="" colSpan=2
   ><FONT size=3><FONT face="Times New Roman">CFR 270.30a-2):
      Attached hereto.&nbsp; </FONT></FONT></TD></TR></TABLE><BR>


<P style="PAGE-BREAK-BEFORE: always" align=left><A name=page_2></A>
<TABLE style="WIDTH: 571px; HEIGHT: 898px" cellSpacing=1 cellPadding=0 width=571
border=0  >

  <TR vAlign=bottom>
    <TD align=center width="99%" colSpan=2><FONT
      size=3><FONT
  face="Times New Roman"><B><U>Notice</U></B></FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman"><BR>A copy of the
      Amended and Restated Declaration of Trust of the Registrant is on file
      with the</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman">&nbsp;Secretary
      of State of the Commonwealth of Massachusetts and notice is hereby given
      that this&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman">instrument is
      executed on behalf of the Registrant by an officer of the
      Registrant&nbsp;&nbsp;as an officer&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman">and not
      individually and the obligations of or arising out of this instrument are
      not binding&nbsp;</FONT></FONT></TD></TR>
  <TR>
    <TD align=left width="99%" background="" colSpan=2>upon
      any of the Trustees or shareholders individually, but are binding only
      upon the assets and</TD></TR>
  <TR>
    <TD align=left width="99%" background="" colSpan=2
     >property of the respective constituent series of the
      Registrant.</TD></TR>
  <TR vAlign=bottom>
    <TD align=center width="99%" colSpan=2><FONT
      size=3><FONT face="Times New Roman"><BR><BR>SIGNATURES</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman"><BR>Pursuant to
      the requirements of the Securities Exchange Act of 1934 and the
      Investment&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman">Company Act of
      1940, the registrant has duly caused&nbsp;&nbsp;this report to be signed
      on its behalf by&nbsp;&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     >the undersigned, thereunto duly authorized.</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT
      face="Times New Roman"><BR><BR>Registrant: <U>MFS MULTIMARKET INCOME
      TRUST</U>&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR><BR>By (Signature and
      Title)*&nbsp;</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="72%"
   ><FONT size=3><FONT face="Times New Roman">MARIA F.
      DWYER&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman">&nbsp;</FONT></FONT></TD>
    <TD noWrap align=left width="72%"><FONT size=3><FONT
      face="Times New Roman">Maria F. Dwyer,
      President&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR>Date: <U>March 24,
      2006</U>&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="72%"><FONT size=3><FONT
      face="Times New Roman">&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman"><BR><BR>Pursuant
      to the requirements of the Securities Exchange Act of 1934 and the
      Investment&nbsp;<FONT face="Times New Roman"
    size=3></FONT></FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman">Company Act of
      1940, this report has been signed below by the following persons on
      behalf&nbsp;&nbsp;</FONT></FONT></TD></TR>
  <TR>
    <TD noWrap align=left width="99%" background="" colSpan=2
   >of the registrant and in the capacities and on the dates
      indicated.</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR>By (Signature and
      Title)*&nbsp;</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="72%"
   ><FONT size=3><FONT face="Times New Roman">MARIA F.
      DWYER&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman">&nbsp;</FONT></FONT></TD>
    <TD noWrap align=left width="72%"><FONT size=3><FONT
      face="Times New Roman">Maria F. Dwyer, President (Principal Executive
      Officer)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR>Date: <U>March 24,
      2006</U>&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="72%"><FONT size=3><FONT
      face="Times New Roman">&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR>By (Signature and
      Title)*&nbsp;</FONT></FONT></TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="72%"
   ><FONT><FONT size=3><FONT face="Times New Roman">TRACY
      ATKINSON&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman">&nbsp;</FONT></FONT></TD>
    <TD noWrap align=left width="72%"><FONT size=3><FONT
      face="Times New Roman">Tracy Atkinson, Treasurer (Principal Financial
      Officer and&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman">&nbsp;</FONT></FONT></TD>
    <TD noWrap align=left width="72%"><FONT size=3><FONT
      face="Times New Roman">Accounting
      Officer)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
      &nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="27%"><FONT
      size=3><FONT face="Times New Roman"><BR>Date: <U>March 24,
      2006</U>&nbsp;</FONT></FONT></TD>
    <TD noWrap align=right width="72%"><FONT size=3><FONT
      face="Times New Roman">&nbsp;</FONT></FONT></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=2
     ><FONT size=3><FONT face="Times New Roman"><BR><BR>* Print
      name and title of each signing officer under his or her
      signature.&nbsp;</FONT></FONT></TD></TR></TABLE><BR>


</BODY>

</HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>mmtq2-1_06x1x1.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 mmtq2-1_06x1x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#`!`+#`X,"A`.#0X2$1`3&"@:&!86
M&#$C)1TH.C,]/#DS.#=`2%Q.0$1713<X4&U15U]B9VAG/DUQ>7!D>%QE9V/_
MVP!#`1$2$A@5&"\:&B]C0CA"8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V-C
M8V-C8V-C8V-C8V-C8V-C8V-C8V-C8V/_P``1"`0A`S$#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B<H*2HT-38W.#DZ0T1%1D=(24I35%565UA96F-D969G:&EJ<W1U
M=G=X>7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P"C_:FH_P#/
M_=?]_F_QH_M34?\`G_NO^_S?XU4HKUN5=CQN:7<M_P!J:C_S_P!U_P!_F_QH
M_M34?^?^Z_[_`#?XU4HHY5V#FEW+?]J:C_S_`-U_W^;_`!H_M34?^?\`NO\`
MO\W^-5**.5=@YI=RW_:FH_\`/_=?]_F_QH_M34?^?^Z_[_-_C52BCE78.:7<
MM_VIJ/\`S_W7_?YO\:/[4U'_`)_[K_O\W^-5**.5=@YI=RW_`&IJ/_/_`'7_
M`'^;_&C^U-1_Y_[K_O\`-_C52BCE78.:7<M_VIJ/_/\`W7_?YO\`&C^U-1_Y
M_P"Z_P"_S?XU4HHY5V#FEW+?]J:C_P`_]U_W^;_&C^U-1_Y_[K_O\W^-5**.
M5=@YI=RW_:FH_P#/_=?]_F_QH_M34?\`G_NO^_S?XU4HHY5V#FEW+?\`:FH_
M\_\`=?\`?YO\:/[4U'_G_NO^_P`W^-5**.5=@YI=RW_:FH_\_P#=?]_F_P`:
M/[4U'_G_`+K_`+_-_C52BCE78.:7<M_VIJ/_`#_W7_?YO\:/[4U'_G_NO^_S
M?XU4HHY5V#FEW+?]J:C_`,_]U_W^;_&C^U-1_P"?^Z_[_-_C52BCE78.:7<M
M_P!J:C_S_P!U_P!_F_QH_M34?^?^Z_[_`#?XU4HHY5V#FEW+?]J:C_S_`-U_
MW^;_`!H_M34?^?\`NO\`O\W^-5**.5=@YI=RW_:FH_\`/_=?]_F_QH_M34?^
M?^Z_[_-_C52BCE78.:7<M_VIJ/\`S_W7_?YO\:/[4U'_`)_[K_O\W^-5**.5
M=@YI=RW_`&IJ/_/_`'7_`'^;_&C^U-1_Y_[K_O\`-_C52BCE78.:7<M_VIJ/
M_/\`W7_?YO\`&C^U-1_Y_P"Z_P"_S?XU4HHY5V#FEW+?]J:C_P`_]U_W^;_&
MC^U-1_Y_[K_O\W^-5**.5=@YI=RW_:FH_P#/_=?]_F_QH_M34?\`G_NO^_S?
MXU4HHY5V#FEW+?\`:FH_\_\`=?\`?YO\:/[4U'_G_NO^_P`W^-5**.5=@YI=
MRW_:FH_\_P#=?]_F_P`:/[4U'_G_`+K_`+_-_C52BCE78.:7<M_VIJ/_`#_W
M7_?YO\:/[4U'_G_NO^_S?XU4HHY5V#FEW+?]J:C_`,_]U_W^;_&C^U-1_P"?
M^Z_[_-_C52BCE78.:7<M_P!J:C_S_P!U_P!_F_QH_M34?^?^Z_[_`#?XU4HH
MY5V#FEW+?]J:C_S_`-U_W^;_`!H_M34?^?\`NO\`O\W^-5**.5=@YI=RW_:F
MH_\`/_=?]_F_QH_M34?^?^Z_[_-_C52BCE78.:7<M_VIJ/\`S_W7_?YO\:/[
M4U'_`)_[K_O\W^-5**.5=@YI=RW_`&IJ/_/_`'7_`'^;_&C^U-1_Y_[K_O\`
M-_C52BCE78.:7<M_VIJ/_/\`W7_?YO\`&C^U-1_Y_P"Z_P"_S?XU4HHY5V#F
MEW+?]J:C_P`_]U_W^;_&C^U-1_Y_[K_O\W^-5**.5=@YI=RW_:FH_P#/_=?]
M_F_QH_M34?\`G_NO^_S?XU4HHY5V#FEW+?\`:FH_\_\`=?\`?YO\:/[4U'_G
M_NO^_P`W^-5**.5=@YI=RW_:FH_\_P#=?]_F_P`:/[4U'_G_`+K_`+_-_C52
MBCE78.:7<M_VIJ/_`#_W7_?YO\:/[4U'_G_NO^_S?XU4HHY5V#FEW+?]J:C_
M`,_]U_W^;_&C^U-1_P"?^Z_[_-_C52BCE78.:7<M_P!J:C_S_P!U_P!_F_QH
M_M34?^?^Z_[_`#?XU4HHY5V#FEW+?]J:C_S_`-U_W^;_`!H_M34?^?\`NO\`
MO\W^-5**.5=@YI=RW_:FH_\`/_=?]_F_QH_M34?^?^Z_[_-_C52BCE78.:7<
MM_VIJ/\`S_W7_?YO\:/[4U'_`)_[K_O\W^-5**.5=@YI=RW_`&IJ/_/_`'7_
M`'^;_&C^U-1_Y_[K_O\`-_C52BCE78.:7<M_VIJ/_/\`W7_?YO\`&C^U-1_Y
M_P"Z_P"_S?XU4HHY5V#FEW+?]J:C_P`_]U_W^;_&C^U-1_Y_[K_O\W^-5**.
M5=@YI=RW_:FH_P#/_=?]_F_QH_M34?\`G_NO^_S?XU4HHY5V#FEW+?\`:FH_
M\_\`=?\`?YO\:/[4U'_G_NO^_P`W^-5**.5=@YI=RW_:FH_\_P#=?]_F_P`:
M/[4U'_G_`+K_`+_-_C52BCE78.:7<M_VIJ/_`#_W7_?YO\:/[4U'_G_NO^_S
M?XU4HHY5V#FEW+?]J:C_`,_]U_W^;_&C^U-1_P"?^Z_[_-_C52BCE78.:7<M
M_P!J:C_S_P!U_P!_F_QH_M34?^?^Z_[_`#?XU4HHY5V#FEW+?]J:C_S_`-U_
MW^;_`!JUI>I7TFJ6B/>W+*TR`J96((W#CK655O2?^0O9?]=T_P#0A4RBK/0J
M,G=:G&T445Y9ZYT]%%%>N>*%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!5O2?^0O9?\`7=/_
M`$(54JWI/_(7LO\`KNG_`*$*4MF./Q(XVBBBO)/9.GHHHKUSQ0HHHH`****`
M"BK1TV[%^+$PG[2?X,CTSUZ=*/[.N?*20H@#DA09%W,<XX7.3S[4N9=Q\LNQ
M5HJU+IMW$X0PEG.3B,ASQUSMSBH[>UFN3((8RYB0R.,]%'4T76X<KO:Q#14P
MM9FM&N@G[A7V%\CKZ5$JLQ(4$X&>!VIW%9B445)%#),)#&NX1KO?GH,@9_44
M`1T58BLIY;8W"B,1!BNYY%7)`R0`3D]1TJO1<+-!114D\,EO)Y<J[7P#C.>"
M,C]#0!'1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%6])_Y"]E_UW3_T
M(54JWI/_`"%[+_KNG_H0I2V8X_$CC:***\D]DZ>BBBO7/%"BBB@`HHHH`[62
M6,:L+S</.6<6F/JX.?\`ODD5C7CA8M.,2.;H,YB8.`H/FMC(QS^8K#HK&-*W
M4WE6YNAT4MVNEL)WLO+FNT99H-V-N"/F&0<`\\>U0:+>[=0OKQU`!B+LH]#(
MN1^58E%5[-6L3[5W3.L*06T(T\LCPPW,!<MR#N9B<_\``=M1V]L]FJ(+=$GE
M2Z"JT8+-\HVC!'/TKEZ*GV7F5[;R.ECT]9(S+Y,*(\%N%D=0%W[E#?U!J2ZM
MTAL9G,821K>56_<B(D!X\?*"?7K7+44_9ON+VJML::M"/#JB5'9C<OLVN%P=
MB\G@Y_2M1+&'S5E-O'Y$LUH(VVC#`CY\?CUKF**;A?J)5$MT=*D4<]L9HK6!
MKO$JQ1K$-K;63^'H2`34FJ0>8MV?LZ1NJ!FE,893B-/E#=5/ICK7+44O9ZWN
M5[96M8****U,`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*MZ3_R%[+_`*[I
M_P"A"JE6])_Y"]E_UW3_`-"%*6S''XD<;1117DGLG3T445ZYXH4444`%%%%`
M&G<V=G8W2VET9FE`'FNC`*A(SP,<XSZBG-ID=NFI+<;VEM-NTHP`;<0!V/KF
MDEN[&^O8[F\\Y'.T3*BAE;'&0<Y&0/0U+=7FR]OA=E7BO4!#PD-@`Y4CZ8Z'
M%8WD;VCJRH;:#^QDN@)/.:8Q?>&W@`YQC/?UJ74]-BM+2&6&1G8,8IP3PL@`
M.!^OY4^WOK*%+:#$S0PR&9F*#+OP`,;N!QZTR#4_-M+N#4)KB42@%#][:P.<
M\D8I^]>XK0M8L6VE6LUM:2NMPB3HYDFWC9%M)&3\OMZU7L+:QNA(I6XWQ6[R
MLPD4`E>P&T\>]2QZI;PPV,:^;(D2LDZ,@`=6))[GUJ&RN;*TGNB'N#%+"\2?
MNUW#<._S=OU]J7O:C]W0?8V=E>M,(HKIC'`9-BR`DL&QC[O/!':EMM.@FU2*
MUD@NH=\3,49QN!`)'\/0@#M4&FW%M;K="=I1YT)B78@.,D'/)'I4UG=V-K>0
MS>9<N(XV4DQC)R"!@;N``:;OK84>5VN17UI!:QVTFV5&DW&2!V&]0#P<XXS[
MBG7MM966LR6T@G-O&P4D.-WUZ?I39;JVNK2)+EIA/"2JR*@;>G8'D<BGZE<V
M%Y=W-TK7!>7E$:,``\=3N_I0K]0=NGD+<:;#9&:2X+O`?^/8QN/WN>ASCH!U
M]Z@TBUBO=2AMIMX20D90@$<9[@TM[<V\MC9P0M*6@#!BZ``Y8GCD^M)H]U%9
M:E%<S[RD>3A%!)XQW(I^]RON+W>==BW%HZW4=J8O,MWFE:,I,0?E`R6'`XZU
M#;6EI?7#6UKYRRD$Q,[`AR!G!`'&0/4U#;WSVFI1W2.TWEGCS."PZ$=3CJ:F
MM[NSL;A[FU$S2[2(ED4`(2,9)SS@'T%)\R&G!_J6+32[>>ULY3'<D3LRRR*X
MVQ`8^8_+TY]>U0Z?:6-U>1VC&=F._,BN`O`)&!@]@._>G1:G%;VMBD7F,\#/
MYJL@"NK8RO7GIZ4VRNK&RU?[3&;@P*&VJ4&X9!&/O=L]:7O:C]W06PM+&^D9
M(XKK<L+R;!("21T`^7O]*$TQ)9PK17%JJ0M-*)B&;:#VX'7IS4&FW-O:RW)E
M:7;)"\2E4!/S#&2,TVPO1:3MO#2P/&T+*3@[#Z>A[TVI:V$G'2Y)#:VUY#<-
M;"6.2!/-*NX8,HZ\@#!YIFIVT%L]N(!)^\A24[V!^\,XX`I\-U:VD%PML97D
MG7RR[H%V(>N`"<GCVJ6ZN=.N9(79[DB*!8MOE*-Q48SG=QS1=I^0K)Q\Q7TN
M*:[L+:V+HUS$)6:1@P4<YZ`=`#4=M:6E]<-;6OG+*03$SL"'(&<$`<9`]34C
MZI%%=V%S:B1VMHA&RR*%#`9ST)Z@FH[>[L[&X>YM1,TNTB)9%`"$C&2<\X!]
M!2]ZQ7NW(=(MHKS4H;:;>$D.,H0"/S!JPFF!;&\N+FUNH?)"F,,=H.6`P<KS
MC-5](N8K/4H;F??LC.<(H)/YD4^VN+6&ROH&>8F<*$(C'9@>?F]JJ5[Z>1,>
M6VOG^6@LUK;V<-N;D2R2SQB7;&P4(IZ=0<G\JL)I4"7,J2M))%]E-S$RL%)7
M&0#D'Z57ENK:\@MQ=>;'+`@BW1J&#J.G4C!_.K":K;O=S/*LL</V4VT2HH8A
M<8!.2/K2?,-<MRKIEM!=/<"828CA>5=C@?=&<'(-*UI!)IYO;?S`L4@26-V!
M.#T(./Z5+9W&G6@DP]RS2121EO*4?>``XW=N:B:[@CL#90&4K+('ED=0#@=`
M%S_6GK?0244M2VVG6":Q+:R&X6"*+>7#@M]T-_=]ZKS:<MJ;Q)RS-%&)(60X
M5U+``]#QS4L^H6DNI7%R#.$FA,8!C&0=NW^][9J&/4P=(FLIE+O@"%_[HW`E
M3[<5*YM/D4^37YBW-I9V%PEM<^=)*`#*R.%"$\X`P<X!J2WTR*6S%RD=Q<IY
MC*PA(!C4="1@DYIQU*TFU"&_F\Y)AM,J(@99,8'4D8R!Z&HHKVV6YCNMUQ#,
MLA9O+`.\;L@9R,<<=Z/>L'N7,]E#3%(MS`MA..3Z5//I]U;QF26,!5.&VNK;
M3Z$`\?C0EZ4U7[<L:Y$WF[.W7.*G>ZM(8+I;43L]R-I\T`!%R#ZG)XZ\5;<C
M-*+O=E2XM)K9(WE5=LH)1E<,#C@]#5FYL&$OEPHH\I$65FD"@N1D]3^'X59B
MDM;I=.@!E(M0S2[T`!7)<]S]*I03EKTW,UM]I+OG;R`6)SV_'BE=LKEBOF-B
MT^YENVM5C`G4X*,P4Y_$\TNGPI+.S2KNBB1I'&<9`'`_$X'XUHRW$-CXJDN)
MI994C?<2H#,21R.H'&2/PJFI6VTZ22-BWGRA%+K@E5^8\9/<K^5',VO4.5)^
MER-]-NXXC(T6`JAF7<"RCU*YR!^%3W.GFTT^-W@D>651(7P=D2GH/J??UJ1]
M1M/M-Q>QK-]HF5AY;8V*6&"<YR1R<#%+)JL3O-<8D,TMMY!0@;!P!D'/MG&.
MM*\V.T%?4R****U,0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"K>D_\A>R_P"NZ?\`H0JI5O2?
M^0O9?]=T_P#0A2ELQQ^)'&T445Y)[)T]%%%>N>*%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`#E=DSM8KD8.#C(]*=%<30JRQ32(&ZA6(S4=%%@NP
MIQ=BJJ6)5>@)X%-HH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"K>D_\A>R_P"N
MZ?\`H0JI5O2?^0O9?]=T_P#0A2ELQQ^)'&T445Y)[)T]%%%>N>*%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!5O2?^0O9?\`7=/_`$(54JWI/_(7LO\`KNG_`*$*4MF./Q(X
MVBBBO)/9.GHHHKUSQ0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*MZ3_`,A>R_Z[I_Z$*J5;
MTG_D+V7_`%W3_P!"%*6S''XD<;1117DGLG3T445ZYXH4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%6])_P"0O9?]=T_]"%5*MZ3_`,A>R_Z[I_Z$*4MF./Q(XVBBBO)/9.GH
MHHKUSQ0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`*MZ3_P`A>R_Z[I_Z$*J5;TG_`)"]E_UW
M3_T(4I;,<?B1QM%%%>2>R=/1117KGBA1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5;TG_D+V
M7_7=/_0A52K>D_\`(7LO^NZ?^A"E+9CC\2.-HHHKR3V3IZ***]<\4****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"K>D_\A>R_Z[I_Z$*J5;TG_D+V7_7=/_0A2ELQQ^)'&T44
M5Y)[)T]%%%>N>*%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!5O2?^0O9?]=T_P#0A52K>D_\
MA>R_Z[I_Z$*4MF./Q(XVBBBO)/9.GHHHKUSQ0HHHH`****`"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*M
MZ3_R%[+_`*[I_P"A"JE6])_Y"]E_UW3_`-"%*6S''XD<;1117DGLG3T445ZY
MXH4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%6])_Y"]E_P!=T_\`0A52K>D_\A>R_P"NZ?\`
MH0I2V8X_$CC:***\D]DZ>BBBO7/%"BBB@`HHHH`****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JWI/\`R%[+
M_KNG_H0JI5O2?^0O9?\`7=/_`$(4I;,<?B1QM%%%>2>R=/1117KGBA1110`4
M444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`5;TG_`)"]E_UW3_T(54JWI/\`R%[+_KNG_H0I2V8X_$CC
M:***\D]DZ>BBBO7/%"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JWI/_`"%[+_KNG_H0JI5O
M2?\`D+V7_7=/_0A2ELQQ^)'&T445Y)[)T]%%%>N>*%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!5O2?^0O9?]=T_]"%5*MZ3_P`A>R_Z[I_Z$*4MF./Q(XVBBBO)/9.GHHHK
MUSQ0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`*MZ3_R%[+_KNG_H0JI5O2?^0O9?]=T_]"%*
M6S''XD<;1117DGLG3T445ZYXH4444`%%%%`!1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%6])_Y"]E_UW3_
M`-"%5*MZ3_R%[+_KNG_H0I2V8X_$CC:***\D]DZ>BBBO7/%"BBB@`HHHH`**
M**`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
M`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`**
M**`"BBB@`JWI/_(7LO\`KNG_`*$*J5;TG_D+V7_7=/\`T(4I;,<?B1QM%%%>
M2>R=/1117KGBA1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`
M!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%
M%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`44
M44`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!111
M0`4444`%%%%`!1110`4444`%%%%`!1110`5;TG_D+V7_`%W3_P!"%5*MZ3_R
M%[+_`*[I_P"A"E+9CC\2.-HHHKR3V3IZ***]<\4****`"BBB@`HHHH`****`
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HH
MHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB
M@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`
M"K>D_P#(7LO^NZ?^A"JE6])_Y"]E_P!=T_\`0A2ELQQ^)'&T445Y)[)T]%%%
M>N>*%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%
M`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4
M444`%%%%`!1110`4444`%%%%`!5O2?\`D+V7_7=/_0A52K>D_P#(7LO^NZ?^
MA"E+9CC\2.-HHHKR3V3IZ***]<\4****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"K>D_\`(7LO
M^NZ?^A"JE6])_P"0O9?]=T_]"%*6S''XD<;1117DGLG3T445ZYXH4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%6])_Y"]E_UW3_T(54JWI/_`"%[+_KNG_H0I2V8X_$CC:**
M*\D]DZ>BBBO7/%"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JWI/_(7LO^NZ?^A"JE6])_Y"
M]E_UW3_T(4I;,<?B1QM%%%>2>R=/1117KGBA1110`4444`%%%%`!1110`444
M4`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110
M`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!
M1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%
M%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`5;T
MG_D+V7_7=/\`T(54JWI/_(7LO^NZ?^A"E+9CC\2.-HHHKR3V3IZ***]<\4**
M**`"BBG1A"X$K,J=RJ[B/PR/YT`-HK>N/#832FOK>[\X!!)L,6T[3WZGW_*L
M&IC)2V*E"4=PHJWIEBVHWR6RML#9+/C.T#O5C6=+@TJ7R/M3RS8#8\K:,?7=
M_2CF5^7J"A)QYNAF45LZ?HUK?VD\Z7\B"W7=(&M^@P3Q\W/0U!]DTK_H*2?^
M`I_^*I<ZO8?LY6O^J,VBKFI62V5PD<4WGH\:R*^W;D'VR:FGTI;&-#J%QY,C
MC<(43>^/4\@#\Z?,A<DM?(S:*TCIL,FGRW=K>K((<;XW38PR<>IJ.VTFYN8!
M,!M0]/E9B??"@G'N:.=!R2*-%37-M):N%<JP895E.0PJ&J3N2U;1A16[I?A^
M#5+<RP7[*0=I5X<<XSC[U8DL;12O&XPZ,58>A%2IINR*E"44F^HVBE52S!5&
M23@`=ZW=0\/0Z;:)/<WS?,=NU(=WS8Z?>]J'-1=F$82DFUT,&BBBJ)"BG(VQ
MU;`;:<X89!^M=%?16\OA&&\6U@BF>3!:-,=&(_I42ERV\RXPYD_(YNBBGPQ^
M;-''N"[V"[CT&35D#**T-9TS^RKI8?/6;<F[(&"/J*SZ2::NARBXNS"BBBF(
M****`"BBB@`HHKHO"0@N[IK6XM+>14C+AFCRV=P_QJ9RY5<J$>>5CG:***HD
M****`"BBB@`HIT80N!(S*G<JN2/PR*V;C1+2WTR._;4)#%*<(!;\D\_[7L:E
MR4=RHP<M48E%!QDXZ451(4444`%%%%`!1110`4444`%%%%`!1110`445IIIU
MJ+""YN;_`,EIPQ6,0EN`<=0:3:6XU%RV,RBMVTT&UN[.>ZCU)O+@!+G[.>PS
M_>JO#8:9-,D2ZJ^YV"C-L0,G_@53[2)?LI?TT95%27,7V>YEAW;O+<IG&,X.
M*CJS/8****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"
MBBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JWI/_(7LO\`KNG_`*$*J5;T
MG_D+V7_7=/\`T(4I;,<?B1QM%%%>2>R=/1117KGBA1110`4444`=AI]Z+?4-
M.MI/]5<V$:$'IG+8_J/QKFM5LCI^HS6QSA6^4GNIZ5<UPF)M+9"0RV43`^AR
M36CKD!U?3['4K=097Q$X'J3C^>1^-<\?=:?1G3+WXM=44=-/V#3?M/2:[E$4
M?^X""Q_/`J3QD,:T#ZQ*?U-5]3E7^U+>TB.8;3;$I]2#\Q_$YJUXT!&L)[PK
M_,TU\:?>X2_AM=K#O#*EM*UI5!),```[_*]8BV-VS!1;39)P/D-;GAAVCTO6
M71BK+""&!P0=K\UD)JVHHZM]NN3@YP96(/ZTU?FE;^M"'R\D;_UJ)E[34T6Y
M8O\`9I0K#.>%;H/:NDU[1I=7D34-.D2960`KNQG'I7+RL]]?.ZK^\GE)"Y[L
M>GZTL%U=V$I$,TD+*<$*V.?<4Y1;::>H1FDFFM&.GAO-/,D,\;P^:NU@PX8`
M@\?B!TK9L+Z!8#,K(TIBBC,3E5`*$'/S$<'';.":N:?>_P#"0:1=VMZBM-"F
MY9`,9.#@_6N0I+W[J6Z&_P!W:4=4S2U:6#$<$$K3;7>1G;'5L<9'!QCMW-9M
M%%:Q5E8QE+F=S<TVZ:PT9+M<_)?KD#N-AS^AIWBVT6.^CO8N8;I0P(Z9Q_48
M-51_R*K?]?H_]`-:5C_Q./"\UH>;BS.Z/U([?U'Y5@_=ES^9T+WH\GE=&7H4
M:"Z>\F&8K1#*?=OX1^=:NM.\WA.QF<Y9Y<L?4G<:S+@_8]$@MQQ+='SY/]P<
M*/YFM+5`3X+T_`Z2#/MPU$M9)^81T@X^10TW1HM1LYIH[PJ\";G0Q=.N.<^Q
MK,@6)Y0LTAB0]6"[L?A71>$O^/'5O^N:_P`GKF:TBVY25S.22C&21J:QI`TN
M*VD%QYPN`2/DVX`Q[^]:5Q_R(=M_UT/_`*&U'BW_`(\=)_ZYM_)*+C_D0[;_
M`*Z'_P!#:LN9RC%ON:\JC.:7;_(D\,6<0LKZ0S6\C-$N",DQ9#=<CC\,]*P3
M8H)UB^WVA#`G>"VT>Q^6MKPE_P`>.K?]<U_D]<S5Q3YY:D3:]G'3N:&KZ3)I
M,L<<LB.77=\N>*L0>'WN=.:[MKJ*4*<%0",=,Y)QT!S5[QQ_Q_6W_7,_SI=)
M8KX,U$@X/F,/T6IYY<BD5[./M'&VAFVNEV=W,+>'4@9VX4&$A6/H#G^E1MI8
MM<_VC/\`9B6(50F]FQP3C(X]ZATC_D+V7_7=/_0A6AXO).N.">B*!^57>7/R
MW(2BX<UB"^T?R+!+ZVN%N;9C@L%VE3[BH-/T\WJS2--'##`NZ1VYP/8=ZV(.
M?`ES[2C_`-#6LO3=,>[MY[F2;R+2(8DDQG/0X`[]OTI*3L[O9C<%S*RW5R:R
MT:'44E%C>%YHQN\N2+9D>QR:IZ?9QWER()+A8'9@J[D)R3QCBN@\)?8?[3E%
MK]H+^2>9=H&-R]AWK#LO^1@M_P#KZ7_T.A2=Y('&*478N3:#%:7;0WNHQVZD
M@1L4)+\=<9X&>,D]JN>%(5M_$5U"L@D$<3+O`P#AEJGXO).N.">B*!^53>"?
M^0O+_P!<#_Z$M3*[I7;Z%KE5512ZF1IUB]_<>4AV`#+.1\JCU)[4V[@A@<+#
M=)<=<E%(`_/K6UJUMG2(IM*;.GX_>(H^8-ZOZ_TK+T2))M8M(Y/NF0$@]\<U
M:E=.1E*%FH=7U))=*6SMXY=0G,#2C*1(F]\>I&0!^=1W^F-:6\-S'*L]M-]R
M11CGT(['K^5:_B5K"369!=2W0D157$<:E0,9X);WJM-J=@/#[Z;`+EVWAD:1
M%`'()Z$^]3&4FDRY0@FUV-#3["%/#%\OVBU=F<CSUSA1A>"<9_\`UUS%S"()
M=BS1S#&=T9)'Z@5T.E_\B7J/_70_R6N9IT[WEZBJM<L=.@5TVJ?\B7IW_70?
MR:N9KIM4_P"1+T[_`*Z#^34ZF\?45+X9>AD:5IHU.<0BYCBD/W58$EN,GMC]
M:DGTJ*RF:.^O!$P)"JD9=B,\$C(QGZT_PM_R,-K_`,#_`/0#4.ODMKEX2<_O
M"*&WS\M^@)15/FMK<DOM&^SZ>E_;7*W-LQP6"[2I]Q4&F:9<:G,4APJ(,O(Q
MPJBMF#GP'<^T@_\`0UIUC^Y\$7<D0^=V(;Z$@?RJ>>23[WL7[.+DNUKF5#I]
MC/=K;1ZB3(QVJQ@PA/IG=G]*99Z/<7EU-$C(L<!(DF8X50._Z505F1@RDAE.
M01V-=1:$KX)O)4YDD<[SU)RP!_2JFY1Z[D049[K;4R(;"QN+@6\6HGS&.%9X
M=J,?KG/Z57N;"6SO?LMV5A8=6.2N/7@9JJ"000<$=ZZ?QF`1I\A'[QHVW?I_
MB:&VI)7W$DI0<K;%*Z\/M:PPW#W<1MI%W&4*<`<8P.I)S^E1QZ/'=VTLFG7?
MVAXAN:)HBC8]N3FM'Q$Q_P"$=TA<\&-3C_@`_P`:A\$_\A>;_K@?_0EJ.:7(
MY7-'"'M%&VY0&G6L4@AO+_R9OXE6(N$/H3D<U'JVERZ7.L<C*Z.-R.O1A5:[
M):[F8G)+L3^==)XE19(M%1C@.NTGV^2K<FI*[W(48RC*RV,=-*V6*WM[-]GA
MD_U8"[G?Z#C]327&F;;`7UM,)[?.UCMVLA]".?;O6[XK^PB[MX;E[A`D646*
M-2`"<=R/2J%MJ>FVFE7EG%]JD-PIP710`V./XOI4QG)I214H0BW%F#3F=G"A
MF+!1A<GH/04VBMSG.H\/?\BUJW^X_P#Z`:Y<$@@@X([UU'A[_D6M6_W'_P#0
M#7+UE3^*1M4^&/H:VE:4-9D?_356X.79"A)Z]<].]$>CVX21;C4HX;F-"[0A
M"V,#)&<XS["K?@G_`)"\O_7`_P#H2UAW9+7<S$Y)=B?SI>\YN-P]U04FC1N]
M&CAT=-1AN_.C=MH7R]O<CU]JK:99PW]PL#W!AD<@)^[W`_KQ6S<?\B';?]=#
M_P"AM61H/_(;L_\`KH*%)N,M=KCE&*G'3>Q'JEC_`&=J,MIYGF[,?-MQG(!Z
M?C4T^G06<BPWMVT<Y`+)'%O"9Y&3D?IFIO$[%?$=RRG!!0@_\`6M$W>BZZ5-
M\&M+P@`R`X!/UZ?G1S2Y4P4(\TE]QCS:8D5TL0O8`CQ"599`R@@]!T)S6YXL
ML8FG@V3VULJ1G"-D9Y[`#%8>LZ;+IEV(I)/,0KF-_5:UO''_`!_6W_7,_P`Z
MEZRBT^Y2249IKL<S11170<P4444`%%%%`!1110`4444`%%%%`!1110`4444`
M%%%%`!1110`4444`%%%%`!1110`4444`%6])_P"0O9?]=T_]"%5*MZ3_`,A>
MR_Z[I_Z$*4MF./Q(XVBBBO)/9.GHHHKUSQ0HHHH`*D@2-Y0LLHB3NVTG]!4=
M%`(UM9FLKF.V:WNB[00)#M:,KNQW_7I4VA:VNG6-W!)R2-\((S\_^<'\*PZ*
MCV:<>5FBJ-2YD6+/RFNU>XF,:@[BVTL3S6MXCN[#5)UN8+I@Z1[/+:,\X)/7
M\:P:*'"[N)3M%QL=%HT^G66GWL,^HIONX]GRQ.0G##TYZUAW,44,F(;E)U/\
M2JP_,$"H:*%&S;N$IW25MB6TF%O=PS%=PCD5RN>N#G%:.H+IE[.]S;79MWD.
MYHIHV(!/7!4&LFBFXW=Q*5E:QL)?VVFZ=/;63M-/<C$DVTJJKZ`'GN>?>L>B
MBA12"4G(*!R0,X]Z**HDVS]@&@_8AJ,1F\_SL^5)C[N,9VU6T#41INII+(<0
ML-DG&>#W_/%9M%1R*S3ZE^T=TUT+NH7*ZAJCREA'$S!5)!PB#@<#VK<NKO2Y
MM`BTY-27?'@[S"^#C/M[URU%)TT[>0U5:OYFSX?U.#3+BXBN?GMYQM9T![9P
M<=<<FJ[VVF12E_M[3Q`Y$:1$,1Z$G`%9U%/DUNF+GT2:V.BUO4-/U:TM,7!A
MEB0Y3RR5!('&?;'O3IKG3F\-1::NH1^;&V[<8GVGDG'W?>N;HJ?9*R5]BO;-
MMNVYM^'-2MK'[7#=LR1W"!=X&<8S_C5%[6S$RHFHJRG.Z0Q,`/ZD_A5*BJY-
M6T]R>?W5%K8Z#Q1>66HO%/:W:N8UVE"C`GGMD8J2QN=/@\/7%@]_'YL[%LB-
M\+P./N^U<W12]DN51N5[5\SE;<O:4((]1BFGNDBCAD5\E6._!SQ@>W?%6O$E
MQ:WM^;JUN5E#`*4VL",#KR,5CT57+[W,3S^[RV.DAN=/7PU+IK:A'YLC;MPC
MDVCD''W?:H-,U"S&EW6E7LA2.1BR3(I(SQVZ]0#6%14^S7?S*]J[IV\CHM#O
MM-TB\D)N&F#H091&0!R,`#KS_A5*W%BFLQW'VX"%)!+EHF!.&S@`9K*HH]GJ
MW?<7M79*VQL^(YK2]O6N[6\23(`\O8X;CZC%2^%[JSTZY>YNKM4W1E!&$8GJ
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MDAN=/7PU+IK:A'YLC;MPCDVCD''W?:J6D:I%91W%C=`RV<^0Q3J#TW#-9%%+
MV:LUW'[5W3[&E]ETM'WMJ#2QCG8D+!S[9/`J;3=7BMOM5M-"18W.<HAR8\\9
M!/7_`.M6/13<+JS$JC3NE8TH;?38K@22WPFA4Y\M(F#O['(P/SI-4U%M8U$2
M2,L,0^5-V2%'OCO6=13Y=;ASZ62.BUJ[L+K2+.W@O4:2U0`@QN-^`!QQ[5'X
M8NK+3KE[JZNT0M&4$81R1R#DX&.U8-%3[-<O+<KVKYN:Q:N(H6OB$NXS$Y+>
M;M?"_48S^E;.OW=A?6=HMO?(9+9"-IC<;N!T./:N<HIN%VG?8E5+)JVYOWFH
M66M6L/VR5K6[B&TOL+*X_#FLYX]/MXVQ,UW*1A0JE$7W)/)^E4:*%"VB>@W4
M<M6M0HHHJS,Z;2;K3;/2+NTEU%"]RI&5B<A<KCTYKG9XTBE*QS+,O9U!`/Y@
M5'141ARMN^Y<I\R2ML;WA>ZLM/N'N;J[5"R%!&$8GJ#G(&.U95^D*W#-!<I.
MKDG*JPQ]<@56HH4+2Y@<[Q4;&]9:C9SZ"VEWLC0%6W1RA2PZYY`_&H=.ET_3
M+^&<W!N65A@JA54'0DYY/&>,5CT4O9K7S'[5Z:;&QK5S8W6J_;89GD#NI>,Q
MXP``.N>>GZTR]CT^ZO)+B+4!&DKEV22)MRY.<#`(/YBLJBFH6M9@ZE[W1HZS
MJ"WTL*1!O)MXQ&A;JV.YK2UJ\T[6!;SF\,$B)AHS$S'\.WZUSE%'LUI;H'M'
MK?J%%%%69A1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!11
M10`4444`%%%%`!1110`5;TG_`)"]E_UW3_T(54JWI/\`R%[+_KNG_H0I2V8X
M_$CC:***\D]DZ>BBBO7/%"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****
M`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`JWI/_`"%[+_KNG_H0
MJI5O2?\`D+V7_7=/_0A2ELQQ^)'&T445Y)[)T]%%%>N>*%%%%`!1110`4444
M`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`
M4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1
M110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%
M%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!1110`4444
M`%%%%`!5O2?^0O9?]=T_]"%5*MZ3_P`A>R_Z[I_Z$*4MF./Q(XVBBBO)/9.G
MHHHKUSQ0HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH
M`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`
MHHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"B
MBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`***
M*`"BBB@`HHHH`****`"BBB@`HHHH`*MZ3_R%[+_KNG_H0JI5O2?^0O9?]=T_
M]"%*6S''XD<;1117DGLG3T5T/_"':C_SVM?^^F_^)H_X0[4?^>UK_P!]-_\`
M$UZ?M8=SRO8U.QSU%=#_`,(=J/\`SVM?^^F_^)H_X0[4?^>UK_WTW_Q-'M8=
MP]C4['/45T/_``AVH_\`/:U_[Z;_`.)H_P"$.U'_`)[6O_?3?_$T>UAW#V-3
ML<]170_\(=J/_/:U_P"^F_\`B:/^$.U'_GM:_P#?3?\`Q-'M8=P]C4['/45T
M/_"':C_SVM?^^F_^)H_X0[4?^>UK_P!]-_\`$T>UAW#V-3L<]170_P#"':C_
M`,]K7_OIO_B:/^$.U'_GM:_]]-_\31[6'</8U.QSU%=#_P`(=J/_`#VM?^^F
M_P#B:/\`A#M1_P">UK_WTW_Q-'M8=P]C4['/45T/_"':C_SVM?\`OIO_`(FC
M_A#M1_Y[6O\`WTW_`,31[6'</8U.QSU%=#_PAVH_\]K7_OIO_B:/^$.U'_GM
M:_\`?3?_`!-'M8=P]C4['/45T/\`PAVH_P#/:U_[Z;_XFC_A#M1_Y[6O_?3?
M_$T>UAW#V-3L<]170_\`"':C_P`]K7_OIO\`XFC_`(0[4?\`GM:_]]-_\31[
M6'</8U.QSU%=#_PAVH_\]K7_`+Z;_P")H_X0[4?^>UK_`-]-_P#$T>UAW#V-
M3L<]170_\(=J/_/:U_[Z;_XFC_A#M1_Y[6O_`'TW_P`31[6'</8U.QSU%=#_
M`,(=J/\`SVM?^^F_^)H_X0[4?^>UK_WTW_Q-'M8=P]C4['/45T/_``AVH_\`
M/:U_[Z;_`.)H_P"$.U'_`)[6O_?3?_$T>UAW#V-3L<]170_\(=J/_/:U_P"^
MF_\`B:/^$.U'_GM:_P#?3?\`Q-'M8=P]C4['/45T/_"':C_SVM?^^F_^)H_X
M0[4?^>UK_P!]-_\`$T>UAW#V-3L<]170_P#"':C_`,]K7_OIO_B:/^$.U'_G
MM:_]]-_\31[6'</8U.QSU%=#_P`(=J/_`#VM?^^F_P#B:/\`A#M1_P">UK_W
MTW_Q-'M8=P]C4['/45T/_"':C_SVM?\`OIO_`(FC_A#M1_Y[6O\`WTW_`,31
M[6'</8U.QSU%=#_PAVH_\]K7_OIO_B:/^$.U'_GM:_\`?3?_`!-'M8=P]C4[
M'/45T/\`PAVH_P#/:U_[Z;_XFC_A#M1_Y[6O_?3?_$T>UAW#V-3L<]170_\`
M"':C_P`]K7_OIO\`XFC_`(0[4?\`GM:_]]-_\31[6'</8U.QSU%=#_PAVH_\
M]K7_`+Z;_P")H_X0[4?^>UK_`-]-_P#$T>UAW#V-3L<]170_\(=J/_/:U_[Z
M;_XFC_A#M1_Y[6O_`'TW_P`31[6'</8U.QSU%=#_`,(=J/\`SVM?^^F_^)H_
MX0[4?^>UK_WTW_Q-'M8=P]C4['/45T/_``AVH_\`/:U_[Z;_`.)H_P"$.U'_
M`)[6O_?3?_$T>UAW#V-3L<]170_\(=J/_/:U_P"^F_\`B:/^$.U'_GM:_P#?
M3?\`Q-'M8=P]C4['/45T/_"':C_SVM?^^F_^)H_X0[4?^>UK_P!]-_\`$T>U
MAW#V-3L<]170_P#"':C_`,]K7_OIO_B:/^$.U'_GM:_]]-_\31[6'</8U.QS
MU%=#_P`(=J/_`#VM?^^F_P#B:/\`A#M1_P">UK_WTW_Q-'M8=P]C4['/45T/
M_"':C_SVM?\`OIO_`(FC_A#M1_Y[6O\`WTW_`,31[6'</8U.QSU%=#_PAVH_
M\]K7_OIO_B:/^$.U'_GM:_\`?3?_`!-'M8=P]C4['/45T/\`PAVH_P#/:U_[
MZ;_XFC_A#M1_Y[6O_?3?_$T>UAW#V-3L<]170_\`"':C_P`]K7_OIO\`XFC_
M`(0[4?\`GM:_]]-_\31[6'</8U.QSU%=#_PAVH_\]K7_`+Z;_P")H_X0[4?^
M>UK_`-]-_P#$T>UAW#V-3L<]170_\(=J/_/:U_[Z;_XFC_A#M1_Y[6O_`'TW
M_P`31[6'</8U.QSU%=#_`,(=J/\`SVM?^^F_^)H_X0[4?^>UK_WTW_Q-'M8=
MP]C4['/45T/_``AVH_\`/:U_[Z;_`.)H_P"$.U'_`)[6O_?3?_$T>UAW#V-3
ML<]170_\(=J/_/:U_P"^F_\`B:/^$.U'_GM:_P#?3?\`Q-'M8=P]C4['/45T
M/_"':C_SVM?^^F_^)H_X0[4?^>UK_P!]-_\`$T>UAW#V-3L<]170_P#"':C_
M`,]K7_OIO_B:/^$.U'_GM:_]]-_\31[6'</8U.QSU%=#_P`(=J/_`#VM?^^F
M_P#B:/\`A#M1_P">UK_WTW_Q-'M8=P]C4['/45T/_"':C_SVM?\`OIO_`(FC
M_A#M1_Y[6O\`WTW_`,31[6'</8U.QSU%=#_PAVH_\]K7_OIO_B:/^$.U'_GM
M:_\`?3?_`!-'M8=P]C4['/45T/\`PAVH_P#/:U_[Z;_XFC_A#M1_Y[6O_?3?
M_$T>UAW#V-3L<]170_\`"':C_P`]K7_OIO\`XFC_`(0[4?\`GM:_]]-_\31[
M6'</8U.QSU%=#_PAVH_\]K7_`+Z;_P")H_X0[4?^>UK_`-]-_P#$T>UAW#V-
M3L<]170_\(=J/_/:U_[Z;_XFC_A#M1_Y[6O_`'TW_P`31[6'</8U.QSU%=#_
M`,(=J/\`SVM?^^F_^)H_X0[4?^>UK_WTW_Q-'M8=P]C4['/5;TG_`)"]E_UW
M3_T(5K?\(=J/_/:U_P"^F_\`B:GL?"E];7UO.\ML5BE5R`S9P"#Z4I586W'&
MC.ZT/,****\T]0]T_M2S_P">W_CI_P`*/[4L_P#GM_XZ?\*YC?2;JZ/9(P]J
MSJ/[4LO^>W_CI_PH_M2R_P">W_CI_P`*YC=2%J/9(/:LZ?\`M6R_Y[?^.M_A
M1_:ME_SV_P#'6_PKEMU&ZG[%![5G4_VM9?\`/?\`\=;_``H_M:R_Y[_^.-_A
M7*[J-U'L4+VK.J_M:R_Y[_\`CC?X4G]KV/\`SW_\<;_"N5W4W=1[%![5G6?V
MO8_\]_\`QQO\*/[7L?\`GO\`^.-_A7)[J-U'L8A[5G6?VO8_\]__`!QO\*/[
M7L?^>_\`XXW^%<ENI=U'L8A[5G6?VQ8?\]__`!QO\*3^V+#_`)[_`/CC?X5R
M>ZC-/V,1>V9UG]L6'_/?_P`<;_"C^V+#_GO_`..-_A7)9HS1[&(>V9UO]LV'
M_/?_`,<;_"C^V;#_`)[_`/CC?X5R6:,T>QB'MF=;_;-A_P`]_P#QQO\`"C^V
M=/\`^?C_`,<;_"N1S2%C1[&(>V9U_P#;.G_\_'_CC?X4?VSI_P#S\?\`CC?X
M5R&31DGM1[&(>VD=?_;.G_\`/Q_XXW^%)_;6G_\`/Q_XXW^%<CSZ48/I1[&(
M>VD==_;6G_\`/Q_XXW^%']M:?_S\?^.-_A7(;6]*78Q[4>QB+VTNQUW]M:?_
M`,_'_CC?X4?VUI__`#\?^.-_A7)B)Z/)>CV,>X_;2['6?VWIW_/Q_P".-_A1
M_;>G?\_'_CC?X5R@@>E^SL:/8Q[A[678ZK^VM/\`^?C_`,<;_"D_MS3O^?C_
M`,<;_"N7^S-2?9C1[&'</:S['4_VWIW_`#\?^.-_A2_VWIW_`#\?^.-_A7+"
MWI?L]+V4`]K/L=/_`&WIW_/Q_P".-_A1_;FG?\_'_CC?X5S/V<4"!:/91#VL
MSIO[<T[_`)^/_'&_PH_MS3O^?C_QQO\`"N:\E!1Y48H]E$?M)G2_VYIW_/Q_
MY#;_``H_MO3O^?C_`,<;_"N9V1TN(Z/91#VLCI?[;T[_`)^/_'&_PI?[;T[_
M`)^/_'&_PKF/W=&4H]C$7M9'3_VUI_\`S\?^.-_A1_;6G_\`/Q_XXW^%<ON3
MTHWI1[&(>UD=1_;6G_\`/Q_XXW^%+_;6G_\`/?\`\<;_``KE2Z]J;O%/V,0]
MLSK/[9L/^>__`(XW^%']LV'_`#W_`/'&_P`*Y/S0*=&X=J/8H/;,ZL:O8GI-
M_P".-_A3AJ=F>DO_`(XW^%8$:#`XJ>-034.G$M39MB_MCTD_\=/^%(=1M5ZR
M_P#CI_PK+:,A<U"Z[U/K24$5SLV1J=H>DW_CI_PI1J%J?^6O_CI_PKG?NG%2
M*:?LT3[1G0?;;?&?,X_W33DNH7&5?/X&L5.1BI8#L;::GD17.:_FI_>_2CSD
M_O?I5,-3A4\I5RUYJ?WOTICW<,8R[X_`U#C-1W$0>,T)(&V6$OK9SA9,G_=-
M2^='C.[]*YX9AF_&M.%PZBG*"1*E<O>='_>_2@S1C^+]*K8II'-39%7+7GQ_
MWOT-'VB+^]^AJIBFD4^5!<LM?6R'#28_X":5;VW8<2?^.FLRYCR,BJT3;6Q5
M*":)YFF;GVVW'_+3_P`=-`O;<])/T-93+QFF*<&CD0<S-@WMNO63_P`=-*MW
M`W1_T-93C<N:2!\'!HY$/F9KFZA'5_T-,-_;#_EI_P".FJ3#(JI*N#0H(7,S
M8%_;'_EI_P".FGK=0MT?]#6$IYJ>)\$4."!3-?SX_P"]^AI?/C_O?I5$'-**
MGE*N7?.C_O?I1YJ?WOTJH#3A2Y0N6O,3U_2EWKZU6%/%%AW)MP]:-P]:C%*:
M5@'[U'>D,J#^+]*C/2HF%%@N3^?$/XOT-)]IA_O_`*&JCBHS5<J%<O&[@'\?
MZ&D^V6__`#T_0UGL*C(I\B%S,U/MUO\`\]/_`!TTGVZV_P">G_CIK)(III\B
M%SLV/M]L/^6O_CI_PI/[1M!_RU_\=/\`A6,14;"G[-"YV;G]IV8_Y;?^.G_"
MD_M6R'_+;_QUO\*P&%1,*KV2%[1G1_VM8_\`/?\`\<;_``I/[7L/^>__`(XW
M^%<R:8:?L8B]JSJ/[9L/^>__`(XW^%+'J]C)(L:3Y9B%`V-R3^%<D:EL?^0A
M;?\`75?YBAT8V)]K*YYK1117,=)Z1NS1FM5])*+GFJ[6RKP:[5)/8Y.5K<I9
M-)DU<\M!2;$%%Q693Y]*4`^E6\)292G<.4JX/I2%6]*M[D]*-Z#M1<+%/8_I
M1L;TJWYB^E)YB^E%PLBL(W/:CRF]*L^8/2CS<]J+L+(KB)O2CR&J?S#Z4;SZ
M47861#Y!I?LYJ3<YZ"C+^E%V%D1_9CZT[[./6G?O*7:YHNPLAHMU]:/(7UIP
MC?WH\MS2N.WD)Y*>M'EQTODMZTOD'UHN%A-D=)MC%.$'J:7R!ZT7`9^[]*-R
M>E/\E?6CREHT"S&;T]*/,7TJ3REH\M*-`U(O-'I1YWM4OEH*"$%&@:D8E/I2
M>:WI4HV"C*>U`$7F.>U)N?TJ7>H]*/,7VH`BR_I2?/4IE7VI#,/:@1'MD-)L
M>G^</:FF<4]0T$\MZ/+:D^T"D-P/6GJ+0=Y1H\KWIAN!ZTPW'O19BO$F\KWI
M/*'K4!N*3[3Q3LQ<T2QY8]:38OK58W%-,YHLQ<R+151WIC%15<RN>E(`QZFG
M87-V'M@FK-JN.:K`8J[;C"BD]BH[EI&Q5NV&Y@?>J:U>M>!FL9&\1;J?RQ@5
M6AF#M4MTN[-4%S')1%*P-M,LSH00:8AJP")(ZKE=IIH3)XVYJ9^5!'4544\U
M9C;(P:EE(M0R;U'K4XZ51C/ER>QJXK9%0T6F29I3RM,'-.%2,H7L/.X"DLY<
M'::NRIN4BLQ@89<^]6M58AZ.YJ@\4N.*A@D#H,]:FSQ4%B&FTX\TF*`(W7((
MJA,FQ\UHD9J"XBRN:J+):T(8VW)BD88-,0[&Q4S*"N:H6Z&QG/%-<;7S2*2K
M5*RADSWH`D1]RTV5<BHH6PV#5I@"M+890(PU.4TZ5,'-1`U1)=B;(J8&JD+8
M-6E.14-%ICP:>O2HZ>O2I&/%**:*<*0QXI::#3J0!3'I],;F@9"XJ,BIF%1,
M.:M$LB(IC"I2*813)(B*814A%-(JA$9IA%2D4PBF(A85$PJ=A43"J1+(6J-A
M4K"HFJT0R,U+8_\`(0MO^NJ_S%1M4MC_`,A"V_ZZK_,4/82W/,Z***X3M/?'
M4$8Q67>V?)9:UB:AD`(QBJB[$M7.>:W([TW[/[UK309Z5G3JZ$\5NI7,G&Q#
MY'O1Y(IC2,.U,,QJ]2-"80KZT>2OK4!F-(9S19BNB?RE%)M2JYF/K3?,/K3L
MPYD6]J48054\P^M)YA]:+!S%O<E+N3VJB9&I/,:GRBYB]YBT>8M4-[4N\T<H
M<Q=\U?:D\\52W'UII)]:.47,7_/%)]H`JCN-`)S3Y0YBZ;BD^TU2R<]:*.47
M,7#<TTW-5:2CE0N9EHW'O3?M/O5;!I`#3L@YF63<TGV@U7P:4*<T60N9DYG-
M)YQJ/;1M-%D.['F8TWSC28-)MH%J.\PT;SZTW!I=IQ3`"YI/,)I=A]*38?2@
M-1NX^M)N]:=Y9]*7RF/:@6I&33234X@8]J<+9CVHNA696!I.<U=6T/<4\6H'
M:CF12@R@%)S@4FQO2M/R57M44R@"CF#D*6PT[R_6I*0T[DV$"@4N<"D)II-`
M#EY85H1#"BJ$?WA6A']T5$C2!,O6M"W7Y:SD/S"M6V'R5C,WB1RIFJ$R8)K4
MD%4IESFB+"2(+>3!VDU+,.XJJ<H^:N1D.G-4^Y*[$`ZU,AJ)EVM3E-#!%O[Z
M>XJ6W?(P>HJO$W-2$['!'>H:-+EP=*<#3%;*YIPK,H=UJK>PY&X59I6`=,4)
MV8-71F6LFU]I-:(Y%9DR&*7(]:O6TFY!5R74F+Z$U%%`J"A,4,N5IQ%!'%`&
M;<1E7S3XFRN*GN(]RU25MCXK1:HAZ,?(N#FEB;/%.8;ES4(.UJ`V'2C:V1TJ
M>)PR4QAO2HH6VOBC=`3R+D5588-72,BJ\RXYH3!H:IQ5F-LBJ0/-3QMS0T"+
M@-/4\5$IS3P:@LD!IV:C4T_-2,<#3@:C!IP-`#Z0T"@T@(V%1L.:F-1L.::`
MB(IA%2D4PBJ)(B*814I%,(JA$1%,-2$4PBF(B85&PJ9JB:J1+(&%1,*G:HFJ
MT0R)A4EC_P`A"V_ZZK_,4PU)8C_3[;_KJO\`,4WL2MSS*BBBN$[3W\U!)WJ5
MC5>1J:$R)N:C=`R\BGD\TA/%:$E1[56SQ4#V(/2M"D-4I,EQ1DM8$5&UFWI6
MP:3`]*KG9/(C$-HX[4SR'':MTHI[4WRT]*?M!>S1A^0WI2&%O2MPPIZ4AA3T
MI\XO9F'Y+>E'DMZ5M>0OI2>0OI3YQ<AC>2WI1Y+>E;/D+Z4>0OI1SA[,QQ`W
MI1]G;TK:$"^E+Y`]*7.'LS$-NWI1]F;TK;\@>E-:$`=*.</9F-]F;TH%NWI6
MFVT=J9N04^9BY$4?LS>E'V4^E7C*E)YJT<S'RHI_93Z4OV,U=1PQZ5.JY[4.
M3!01FBS-*+.M,PG&0*@D#+VI<S'RI%3[)1]D%2F4TPRG-.[%9#?LHI1:BD:8
MTJR$T:BT'?9%I1;**>')I=]*[*LAGV=1VH,">E.+&D+'%&H:$?DKZ4OEJ*4M
M3-U,0[`%&13"V:0F@+CBU-+\TW=333L*XYFXJK*U2L>*KN>:I$2>@TFF%N:4
MTW%69MBDYI,BCI1@4")(.7K14<5GV_WZT1TJ)&L-B2+[PK9MQ^[%8\/WQ6S!
M]P5A,W@#K525>35YAFJ\J5*9;1FS)44$A5\'UJW*N0:HRJ5;([5JM3)Z:EV0
M!DR.M0KQ3[>0.N#22#:W'2EY#\R1#BIQ\ZXJHIJ>)N:3&BQ;L0VTU;ZU1?((
M=:MP/O4&H?<M$G:E%)BE`J"BM=P[D)`JG`YCDP?6M9QE>:R[F,QR%ATK2+OH
M1+34T$.Y0:4]:K6DVY<&K1-0U8I.X44"EI#&N,BLVYC*MFM3%03QAE(JHNQ+
M13A?(P:25>]1X,<E6,!XZMZ$K49$_8TDRX8,*;]UJEQO3\*`'Q/N6ED7(JO&
M=CXJV#E:3T&MBDPP:53@T^5>:B[U1);B:IU/%4HVYJTC<"H:*3)13@:8#2@U
M)0^E%-!IPI#'+3J:M.%(`Q36%/HQ0!"143"K!%1,M4F(A(IC"I2*C850B(TP
MU(PJ,U2)(VJ-A4K"HV%4B60L*B85.PJ)A5(ED+"I+(?Z?;_]=5_G36%260_T
MZW_ZZK_.F]A+<\NHHHKB.L]Z8U7?K3V>HF;-6D0QAZTF:&-,)JQ#BU,+4FZF
ML:!#MU*#48I<TPN2$TVD#"D)YH`7-(3@<4W-(30(7<:3<:2BF`[=ZTH85&U(
M#BBP%@&G"H`U2J:0R44[RPW44U34R<U+*13FM,]!5":$QGFMQ\!<UCZA<*"5
MJX-LB22*+'!ZT@;)Q4#RY:I8>2*VL87+T`J]$*J0C@5;BK*1M$G`&.*;)"&&
M"*?&>:+EQ'&6]JS+,BZC$9JDS8-.N[LNQ%5`Y:NF*TU.>4E?0GW9-3)5>/K5
MA*&")5IU,[4X'BI*%S32:#24`!IA%.I#0`RDIQIM,D::3/-.--/6F`C$8JLQ
MR:G<\57JD1(2F^U/II!S5$#:*7%!H$2VX^:KX-4;?DU>6HD;0V)H.9!6W`,(
M,UBVW^M%;"G""L)F\"8@5%(N12;Z7=D5F7<IR+UJG,E:4BU3E2M(LS:*4;>6
M_/2KA`=,BJ<J8.:FMI,_*:M]R8OH+T-2(U$B8YIBG%(9=B8%2IIT#F*3:>G:
MJT38-3R#<@8=14-%&@,=?6CO4%O+O0>HJ?M6;1H+UJ&ZB#Q].<5*#2D;@:-@
ML8T3&*7!XYK31@Z`CFJ5[%M;<*?8S<;36CU5R%H[%P4X4`4HK,L*80:?10!G
MW<6#D"HX'_A-7I5W*:SF'ER5HG=6,WH[DDJ<Y%)&P!Q3P=Z5$PVM30,=,O.X
M5)"^5P::#O7FHU.Q\4`3R#(JNPP:L@Y6H9%YH0V,4XJQ$PP.:K5(C8H8D7`:
M<*A0YJ45!0\4\=*C%2#I2&.%.%-%.%(8M+VH%%(8TBHV%3$5&PH0B!A4;"IV
M%1$5:$0L*B85,PJ-A5(ED1IA%2$4TBJ)9"14;+4["HV%4A$#"GV8_P!.M_\`
MKHO\Z&%.M/\`C]@_ZZ+_`#IO8GJ>54445QG4>WL:C+4]S49K5&8$TT]*7-)U
MIB(Z:34I`Q434T`N:*9G%+NIB'4TFD)I*`%S1FDI:`#-(3113`.M&**,T`.`
MJ1:C!J1328$JU*IJ)33P:AE!.^V(FN:NY2TA.>];U\VV`_2N:F.7-;4D8U7T
M&IR<U<@'-5(ZNP5I(SB7HCQ5N+I52,5:CSBL)'0BRO(JKJ<FV`C-64-9FL2<
M8I15V.3LC%<Y)H7I3&)W4\5U'(31U92JT=6$J&:1):<!30:7/%24!IN*,TF:
M``TTT$TF<4Q!2&@TE,0E(:4TAH`@D-1=ZDD/-1]*M&;W`TAI<TE`@Q2-@4M(
M<8IB);?K5T=*I6_6K@Z5$C6&Q8MA^]'UK8_@_"LBT_U@K68X45A/<V@-'%,#
M_-4FWY35?.&Q4HHLGYA4$B]:FB.10ZY%"&9DRU4!,<F>U:<L?6J,T7-:Q9E)
M%N,^:E1L-K8J.TEVMM-6IDW#<*6S'NB-*M1D$8-4T.#4\;<TFAICT8PS8[&M
M).5S5!E$B9'45+:3$C:>HJ):EHMXI10#FC-9E$4\7F(:RB#!-^-;1/'%9][#
MGYJT@^A,EU+$$F]0<U-699RD-M-:8/`Q2DK,$[H*#114E#2,U2NXLC(%7JBD
M&<BJ3L)JY0B;!P:?*,C-,D78_%/4[EYJR!B'%+(,\BD88-/7E<4`$3<8I[#(
MJ'[K5,IR*3&0,,4BU)(M1]#5$D\9JPIXJFC8JRC9%2RD3"GBHU.:D%0RAXIP
MI@-.!I#'BBD!I:0PIK4^D(S0!"PJ)A4["HF'-4B60,*C85,13&%4B2`BFD5*
M13"*H1&14;"IB*C84T)D#"EM!_IL'_71?YTYA1:C_3(/^NB_SJNA/4\GHHHK
MD.D]J?K3,U(U1GBMD9"$TW=0:::H0_=D5&:7/%%`#**4TE,0444`4`&>*,TA
MI*`%S1FFYI:`%S2BFYI10`\5(N*B!IZTADZT]14:4\&I92*>J-B'%<[(>:W-
M7;]V*P7-;TUH<]5ZDD?05=@JE'T%78:J1,2_$>*LQGBJD1JU'6+.A%E>E8FK
MMF0BMI?NU@:JV9C13W)J?"9Q^]3UZU'SNJ5:Z&<R)XZG6H(ZF%0S5$@I<\4@
MZ4M24)2&EHH`;2=:*2F(#Q29%!---,0$TTF@TUCQ0(A<\TW-*3S3:LS"BBD)
MH$!I.^*#U]J*8B:WZU;!XJG;_>JX*AFL=BU9\RBM5N@K,L3^]%:3_>%82W-X
M[#V.(C]*S/,83D-ZUK(NY"*S+V,I*"!WI1[#E?<N0M5C&16?$^`M:$9RHI2T
M*6I!*F:IS1=>*TG6J\J<4TQ-&0ZE'R*NV[[UQWJ*>/K44+F.0?6M'JC-:,FE
M4H_%+&U2N-Z9JMDJ:6X]B[$^.*1R8I`Z]">:AC?FK&!(A%3L5N7HFW1@T[G-
M4K23#>6Q^E7@.,UFU8M.X@HDC#J0?2E`YIX'%(9B3H8)N.F:T+23?&.>:+V`
M.FX#D52MI3')M-:?$B/A9J44BG<,TN*S+$I"N:=0>E`%.XCSR!5925.*T&&<
MU3E3:U:)D,1AD4T'!IRG(Q3&X-,3%89YIR-CBFKTI.AH`E89J%AS4P.137%"
M!D8J:-J@[T]#0P1<4U*#5=#4JFH9:)0:<*8#3Q4C'"G"FBE%(!U&*!2TAD;5
M$PJ<BHV%4A%<BFD5*PIC"J$0D5&PJ8BHV'-4B2(TPBI"*8:8B)A1;#_3(?\`
MKHO\Z<PI;8?Z7#_UT7^=5T)ZGD5%%%<IT'MAJ)ZE-1-UK9&;(S33TIQZTAZ5
M1(W-!-(:*8!24ZDH`2C-%)F@0&DQ2YHS0`@H)HI#0`9IRTVBF(>*D6HUJ1:E
ME$Z]*>.M1K4G:I*,G6&YQ6&Q^:M?5CES6.3\U=-/8Y*KU)D[5>AZ513M5V&B
M0X%V&K4?6JL/-6XQTK%FZ+!X7\*YO4FS,WUKHG^X?I7-:@<S-]:=+<FKL5%.
M34JU"G6IUKH9S1)XZF6H8ZF6LV;(DHI,T9I%"TAZ4A-&:!"&DH-%`"4F*=32
M:8A"*@D.*F)JO(>::)8RDXI3251`9II/-.--QQ3$P/-'6@T"@1+;\-5L=:JP
M<-5I>M1(UCL7+'_6"M)CR*S;$_O16DWW@*PEN;QV+4/"56NU##I4JMA<5'/T
M-0MS1E+@+]*OVK[DK/!!WCVJQI\G8GO5R6A$=R_MS4,J\FK8&1FHY$SGBLDS
M1HS9TJC*F.:UI4]JI31\&M8LRDAEM)E=I-$Z<Y%5P3'(/3-7AB5,>U4]'<2U
M5BLAQ5J)\559=K8-/1J&"+,@P1(O;K5ZWE#Q@YK/=B+<G'6FZ?<8;:34-71:
M=F;&13@:8O(S1S618YAN4BL>\A,<NX#`K8%17<0DC/'-5%V8I*Z*UG,&0*3R
M*MYR*QXF,,V#6K&P9013DK"B[H7O12TAJ2AC"H)4R*L&F,,U2$RB/E:E/-/E
M7!S48JR`Z&EZT&@4`*IIQ'%,Z&I!R*`(6'-(.M2.M1'BA`R=&JPAJDC<U9C;
MI2:&BR#3P:A4U(#4,HE%%-!I:D8ZG"FBE%`Q<4PBI*0B@"(BH6%6#43"FA,@
M85&14S"F$5:)(&%,-2L*C(JB2-A2VX_TJ'_?7^=!IUN/]*B_WU_G3Z"/'J**
M*YC<]L.*C8<U(U1M6R,R,]:::<:::HD::0TXTTBF`F:3/-%%`A<TAH[TAH`*
M.U%':F(2DI>U&*`$IPI*44`.!IZU&*>O6D,G6I?X:A3K4W:H9:,'53^]/UK)
M/6M35?\`7'ZUE]ZZH;'%5W)X^@JY%5-.U7(:4BX%Z&KD?:J41JY%6,C>)+(<
M1GZ5S-Z<S-]:Z28XB-<Q>']ZWUJJ6Y%9Z$*=:F45`AYJ=36[.>)*E3I5=34Z
MFH9JA]%%)4E#J3-%-)P:`%HHS32:8A33<49H8XH`8QQ4#')I\C9J(U2,V)2T
ME!IDA2'IQ2Y[TAR:8"4<?2E!I#0!+$?FJT*J1?>JR#4LTB7K'_7"M%S\XK+L
MF_?"M8X)%83W-X[$BG)%13N`^#4B+\PIEXF,,*A;EO8I/PYQWJ*PFVSE2>]3
MN/F%4I!Y-V#V-:+56,V[:G3PL&C!%.9>^*KZ>X:/&>U7.U<[T9NMBI,E5)(\
MU?<`FH'2J3):,F:/K@46TF#M)Q5R>/KQ6?(I1\BMD[HR:MJ69XB0&`IUO;.[
M#Y>,T^V<2``UJPHH`P!42E;0M13U(3:HUN5QSBL.1&MKH@C`S73XK+U6VWJ7
M4<U,):V8YQTNBQ9S"6(<\U8(K#T^X\N0*36XI#+D4IJS'%W0"EXP1245!1F7
M\&UMX'%.LI@1M)JY<1B2,BLK!@FK5>\K&;T=S4/3-)UID3^8E/QBI*$I"*=1
MB@"O*N154@@U><<56E3'-4F2QF,BF]#2J:&%4(7K2J0*:*#UH`D/(J%U.:F!
MXIC"@"(<5-&U0FE4XIL1=0YJ9:JQ-5A36;1HF2`T\=*C%/'2I&.%.%-%.%(8
M^FD4M%(!K#BHF%3'I3"*:$0,*B-3N*B8<U:$R%A49J9A41%4B2,BE@'^DQ?[
MX_G2D4L'_'S%_OC^=/H(\;HHHKG-CVMZB8FI6YIA%;(R(Z0TYABFFF`PTA-*
M:::H0E%&*7%`A*#2XI.]`!CBFGTIW:FFF#`4"BC%`@I:2E%`#A3UI@IR]:11
M,E2'@5$M2$\5+&C`U3_6GZUF=ZTM3_UI^M9O>NJ&QQU-R=#5N$]*J)5J"E(J
M!?B-6XSTJG$:MQ]JQD;HEF_U)KF+O_6'ZUTTW^I/TKF;K_6'ZU5(BMLB!>M3
M+FHE'-3**V9A$D6IEJ%34JFH9HB7M130:7-26+2$TF:;FF)BYI&:C---`@W4
MQVXH8XJ)CFJL2V&:::,TTYS3)%SZT9[4AI,TQ7'44VESD4`)WS1F@<\TIH$A
MT>=V:M"JR<&IP>*EFD2W:']X/K6MD_+6-;'$H^M:Y.`M8SW-X;%E#S3;F0'"
MGK0IYILB!VYK,T*SC(%4]3`4*_>M%XMHS67JI.%':M(:LSGLS1TFXR@.:VU.
M5S7):5.5;:>F:Z>VDWQBLZL;,NG*Z'%.332E38HQFLKFEBC+'G-4+B'@\5M/
M&#5::$8-:1D2XF/;2>7+M/>M^U;<@-8%U'L?</6M3392T8%545U<F&]C1S3)
MD#J0?2G'K32V#FL34YZ[A-O/D#`S6GI\_F(`33M0@$T);'(K*LYF@G"GIFMO
MBB8_#(Z"DIB.'4$&GCFLC46J%]#_`!`5>Z4V50ZX--.S$U=&?:28.TU=K.E4
MQ2Y%78'WH*N2ZDQ8^BE-%04,(J*1<@U/36%-"*+#::.HJ69.]1+5D"'BEZB@
MT@-,!0<&G=13#3E;B@9&PI@ZU,ZU">#31+)HFP:LHU45;FK$39J6BDRVIJ05
M"K5(#D5#*1(*<*8*>*D8M.'2FTN:0Q33"*=FD)H`B:H6'-3-4;"K1+(6%1L*
MF84PBJ0B$BE@'^D1?[X_G2D40_\`'Q%_OC^=/H(\9HHHK`U/:B>*832$TTGB
MMS("V::32'K2&F(0FDS2&FTQ#LTN:;FES0`II*3-&:`%III<TUC3$+1FFYH!
MH`7-+FFT9H`D6I%J):D6DQHE!Q3QR*C%/'2I*,+5/]:<>M9G>M34_P#6GZUE
MMUKJAL<=3<G0\5:@-4T-6H3S2942_%5R/M5&+M5R(\BL9&\2:?\`U)^E<S='
M]X?K727!_<'Z5S5U]\_6JI$5B%#\U3@U`O6IAR*V9A$>*D4U%3U-2RT3`TN:
M9FC-(JXZDS2$TTGF@+CC36:@GBHG:BPFP=LU&31D4C>U69L7-!&<4W-+0`AZ
MT$>E%%`@YI.<TO2D-``,TM`'-!/&*`'KUJ<'BJZ]14XI,N)8@.)%^M;#'*I6
M+"?WB_6MAC\JUC/<VAL6$Z4*V7IBDXI8C^]YK(U++*#&?I6%JJ],5T`Y6L^Y
MMTER&IP=F*:NC`@<QN#[UTNGS9"\]:P;FT:!LX^6KNFRG`&>E:32DKF=-M.S
M.F'(I:AMI-\8J:N1G4@(J*9?E-2TC#(-"8&)=QY!I=,?:=I/>K-TG6J$)V3$
M"MUK&QD])&\""*:1DFJEG=>82A/(JUG-9--,T3N(1D%:Q=2MS%+O45M]*KW<
M(FC/'.*J#LR9*Z*>G7&0%)YK3#5SZDV\V#QS6S!()(P15374F#)B>:=U%,'-
M.'%9EE2\BR,@57MY"C;36BXW@BLZXC,<I(K2+OH2]-2\IR*6J]O)E:GSFI8Q
M:0BEI*0R*1<BJCJ5-7R,U6G6K3):(>M-/!I10U42`H'!IHXI30`\\U$ZT\&A
MAQ0!#TJ6-JB:E4XIB+T;5,IXJI$U65-9M%HF!IP-1@TX&I*)**2EI#%S2&BD
MH`:PIA%2FF$4T(A84PBIF%1FJ0B%A20C_2(_]\?SI["DB_X^(_\`>'\Z9)XM
M1116)J>QDTTFC/-)708B9I":4TTFF(2BDS29IB`]:,TAI`:`'BEI@-.S0`AI
M#TH--S0`M(:,T$TQ!G%.!S4;&D#8H"Y,#4BFJ^:DC)I-#3+`-2+TJ$&GJV*E
ME&-J7^M/UK,-:.HG,K?6LXFNF&QR5-Q\?6K,1YJM'4T?6ABB:,3=*NQMTK.B
M:KD;=*QDCIBR>X;]R?I7-W)^<_6N@G;]R:Y^XY8_6JIF=;8B'6IATJ`=:F4\
M5LS"(XTJGFFBCO4EDZFES4:FE+4BKC\TUCBF%Z:7S18&Q2U,)R:.:.U,F]Q#
M29%+UI*9(<4IQWIIXI,^M,5QW:DZ]:">10:0Q>*3VHXHS3`!QWI>U-I<^_%`
MARU.#Q5;H:G0Y%2RHLFB/SCZUKN?W2D5C(<,*U@<P"LYF\-F68W^49I%;]YU
MJ-/N\TTMME%96-;FG&?ES5:XYZ5)$_R]:B<Y/XU*W&]A6198PK`'BJ9M3;OO
M3[M7D/S`5).H\EOI33L#5R.UN,8(/%:D;AU!%8-@0Q92>E:$,K1OC/&:F<1P
M>AHT&HTF5J<6%96-"M<KUXK+D7;.#[UK3<UFW(Q(/K6L#.13,QMM1!R0I(KH
M8G5XPPQ@US.KC:Z.*NZ1>;XPA;D5<XWC<B,K2<3888-)VHSFD)K$U,S4[?/S
MJ*CTZ?:VUC6I(@>-@1GBL253!<>@S6T7=6,Y:.YNJV>:<#5.UF#QBK(;BLVB
MTR0U!<Q[XSQS4V:#R*2T&9D3&-\&KP.X`BJES%M?(J6W?*X-6]=2%IH3T"DI
M:DH*CD7/:I*1AF@"C*N#31R*L2KD56Z&K1#T$-&:4TWO3`7/-/[5'3U-`#7'
M%1=#4[#BH6%-"9)&V*M1MP*HJ:L1-P*30TRZIIX-0H:>#6;+)`:=FH@U.!I#
M'YI::*<*0"TA%.%!H&0L*B85885$PIH1"PIL0_?Q_P"\/YU(PIL8_?Q_[P_G
M5$GB=%%%9&AZ^W!II.*<YJ)C72C!CMU(3FF`TA-.PKC\TE,W49I@.)I,BFYI
M":!7)`12;ZCW4F[FBP7)-U(6J,M2$T["';O>C=[TRD!IV`DS29IF>:-U`B4&
MI5;I596J1328T6@:?VJ!6J4OA#4%HQ[X_O6K/-7+ILR-]:IFNF.QR5-QR'FI
MU.#5=>M2YH8HLN1-5R(Y`K-A:KT+UG)&\63SM^Y-8<_WC6K=/A*R93FG!$U6
M1U*IX%0U(AK1F,204E+FDI%"@T$TVC-(=PR:3-*:;FF2.W<8I,\4W-*#0%PS
M1D9I,BBF(7-(:*0F@`I3GO24$B@!<BC/-':D-`"TGUI031WH`7&:E0\>]1@^
MM/3I292)5.6%;$.3;CZ5BJ<&MNW.;;`]*RF;4QZ$%/>H+EMKJ:EC^X:=Y(G`
M]JC9FFZ);7++GM4Q&!S3HH_+0"F2'"UGNR]AL>2^:DN&Q`WT-,C85#>R[8B/
M44[787T(-..'<GUK27&":S;%?D)]:T%Y0_2G/<4=AZ2IG&[!J0N1R&S69Y#^
M=D,<5>CA<)DU+2*39,D@8X)JM>`!LTJG#TMR,KFDM&#U1EZNNZV1AVK.L;CR
M9U.<#-:E^-UD?:L$'#9KH@KQL<U1VE<[6VF66,,#FICS6#HUWTC8UT`QMR*Y
MYQY6=,9<RN--9^H6^]=P'(K1IDB;E((I)V8VKHQK.38^TFM5#D9%9-U&8ILC
M@9J[:3!D`S5R5]2(NVA=I<TS-*#69H)*@=35`9CEQVS6EVJG<Q\[JJ+Z$M=2
M96R.*=5:WD[59'-)H:%H-':B@"-US525<,:NM5>5<YJDQ-%<'-(0:4C!I3TJ
MB1@I1Q24M,!_6HW%.4\TI&:0$%2(::PQ2*<4Q%V-N*F!JI&U6%/%0T4B2G+3
M*>M242+3A3%I]2,<*6D%%(8A%1,M3&F&F@(&ID?^N3_>%2.*8@_?)_O"K)/$
M:***R+/77.*C)I\G%0L:ZD<[`FFD\4F:835$CLT9IFZC-`#LT%N*:33=U,5Q
MVZD)IM&:`%W4FZD-(:8AVZD+4S-%`7'YI<U'F@-18+C@2#4JM4&ZG!J+`F6D
M;FG32;8C4*MBHKF7Y<5-M2KV12F;+&JYJ5SR341K='-)@IP:E[9J&I5;Y10Q
M(E1L&K43\U1!YJ192!4M&D96)KF7/%4G-2.^ZH332L3)W$IZ'UIE*IP:9"T)
M^U)F@'(III%M@3B@TF/:E/2@0=*;[4[J*;U-,08HI32&@!#1U%+U!I*`"BC-
M&>:!!1UHZFDH`7\:,T4G6@!:!12].M``.3C-/#<TRE`S@YYH&3`\UJZ>^8F%
M9`/K6EIK9)7UK.:T-J;U+L9R&6K%B0'*GUJK'\L^*TK:`;MPK"6B-UJ22=3B
MJ\GW:MNO4U4F.%J$6Q@X%4+QR\@6K$DF%-54!:3<?6M8KJ1)]"Y`NQ`*LD[4
M/TJO$0:?(W`%2QH02$.ON:T4;*$>U5`B;5..:G!Q$<5#U*6A`W^L-/DYC_"J
MHE(F(-62<QGZ4VA(HW0!M''L:YUN":Z23F&08[&N<D&'/UK>F<]7H2VTQBD#
M`]#76V-R)X0<\UQ8.*U](O#%(%)X)HJPNKCI3L['3TA/%",'7(I,YKD.HI7T
M6]"<<U0MI#')M-;#KD$5DWD)CDW"M8.^AG)6U-2)MRYJ0=*H64VY`*NYJ6K,
MM.X\4V1=RGZ4Y33NHJ1F;@QO5F-\BFW,?>HX6Q@5>Z(V9;%%-!I<U)0&HW%2
MTUA0!2D7!IE69$S59A@U:(8TT"EI*H!>AJ1>14=.5L4@$<5$>#4[<U"R\TT)
MCD;!JS&V:IKUJQ&U)C1;%/6H5;-3+TJ&6/%/%,%.!J1CA2TT&ES2`4TTTZDQ
M0,B<5&@_?)_O"IG'%1*/WJ?[PJD2>'4445F6>MR=ZA:II1S4#&NM',QA-,8T
MK4T]*HD3-+FFFDS3%<=2$TTFFEJ!7'[J3=3-U-+4[!<D+4FZHRV*89`*=A7)
MBU)NJ`O1OHL*Y*6I"]0EZ;D^M.Q+D6!)3U>J@:E$A'6BP*1<,N!UJO))N/-1
MF0FF,U"0.0C')IM+259F%.5L&FT4")201Q2$<5'S2Y-*P[W%S24E%,04444`
M.#8IX8'O45%*PTR?%-Z&F!B.]&ZBP[CB>:0TF:7(H`.:3O2[J.*`$-%+UZTN
M*`L,I:*,9H$!HHQ24`%*>>E)2T`%%%`H`#1G%!%':@!VXYJ_IKXE'UK.ZFK5
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MZ4H'%9&@V0;A5-UV/5_%5YTR,TTQ,1&R*D%5HS@XJPIIL$/I#112`C<56E6K
MC"H)%R*I,3*M!%*1@TAYJB1*6DI:8#A36%.%*>E("''-2(<4TBD%,1;0U.IX
MJI&W-6$-0T6F3@TX5&IIXJ"AXI::*6D`ZBD%+0,8PJ-1^]7ZBIB*8!^\7ZBF
M(\)HHHJ"CUZ88-57ZU=G'6J;CFNJ)SL@:FYI7ZTP]*T1FP)IN:1C49.*9+8]
MC32:C9J87XIV$V2;JC9^:9N--)YJK$.0\N3322:::,TR6+F@YS29HS0%Q>]&
M:0FDS0(7-&:2B@+@31113`***2@04444`+1244`%%%%`!1110`4444`%%%%`
M!1110`4444`+DTH;%-HH`?FC(IE%*P[DG%(>M,I0<46"XN*,49S3ACM0`VE_
M2@BE(_&@8W/O10<T#B@0E2P-MD7ZU%WI5.&!H!.S.E7]Y;>O%%BVV3;[TNF8
MDAV^U6X[/;+NQ7*W:Z.Y*^J+9^9<5EZO\B#-:^P!<U3O[7[5$1W`K.#LRY*Z
M.9+EVZG%7;9<]JA>W,$FUQ5V$JD?O71)Z&$5W'8P:;(^3P:AFFP>.]"G(R:F
MQ5^A8M^9!]:V(SA!6/;,/,'UK5'2LYEPV&SME2*K0'#$4^9\-BHHCB6A+0;>
MH^3_`%E<]J8Q=M702GY\U@:K_P`?3>]:4]S*K\)0I<TE'>NDXQZ,0PKI-%N]
MRB-F_.N9[YJW97!AF5L]ZSG'F1M3GRL[/&:3!J&TN!-"&%3\UQ/0[B&X0.A!
M%9&#!<'J!FMW&:S]0M^K`5<'T(DKZEFVEWH.<U8R*Q[.8JVTUJ*V<4I*S'%W
M)*9(,BG"E(XJ2BC(-K<4^-JDE3-0#Y35[D[%E33JB1JD'2I&!J-A4AII%`%6
M1?:HN]6G6J[+@U:(8PT4&BF(6G#I3*<*!@PJ,U-C-1L*`!3SUJS&U51Q4T;4
M,$7%-/%0(U2J:S9:)`:<*8#3EZ4ACJ6DHI#%-,'WU^HIYIH^^OUH$>#T445)
M1['-S5.05?=<U3E7DUTQ,&BE(*C-3RBJ[G%:HR8QC4+L/6G2/Q5<DYJTC*3%
M9LGK3<T4AXJB!<\4F<TE+0*]PS24M)0`44E+3$%%%)0,6BDHH$%%%%`!112T
M#"BBC%`@I*6B@`I*7%&*`"DI:*`$HI:*!B44M)0(****`"BBB@`HHHH`****
M`"BBB@`I124"@!P;UYIP;/>HZ44AW'TT#GFI[2+S9@IJ]<Z<R#*BI<DG8M0;
M5S)8<T5+-&5/-1=*I$-69NZ+-@@$]ZZ9`"N17%:;+LFQGO77V,P>,9-<E:-G
M<[:,KQ)G!QBJ%Q=+%+L)QFM"0\YS6+JUNSMYL9SBLX6;U-)72T)KB&.YCW`<
M@=:R&W1DAN`*LV-V58(Y]JBUHA6#)T-;Q33L92::YB@TF^3KWJTGW15"(Y<9
MJ^/NUHS.+N3VQ_>CZULQY.*Q+<_O!6M&^*QF;0"[0!<XJLA^<&IYI=WRU`HP
M14K8I[DDHR16%K`Q<9K>DZ"L36?]:/I6E/<RK?"9?>DI>])72<8M*&P:;2T#
M-S1KW:P1CQ72(VY,CI7"6\ICD#`]*Z_2[E9X`,\BN6M"VIV49W5B[BF2H'0C
M'-2&@#K7.;F#.AAF].:OVLH91SS1?P;@6%4K=S&X!K;XD9_"S84T^JZ/FI@<
MUDRQKCBJSC!JV14,BTTP9&AJ8&H.AJ1338B2DQ0#2TAC'%5G4U::HG%-"*I%
M%/84TU9(VG"FXI1TH`D%(PH%+2`A-.4XH84T=:8%J-JG4U30U81JEHI$X-/!
MXJ)34E04/!I::*=2`#2#[R_6EH'WA]:!G@U%%%2,]H;IFJ<H/-6XF\R('VJ&
M1>M="T,GJ4W'RUGSO@D5>N7\M361,Y+$UM!7.>I*PUCDTVFYR:<>E:F&X4!2
MQYI5&:E7&*+@E<B9<4VI6J$BA`P-)12TR1*6BB@!,44M+CB@!*6DQ2BD-"8H
MIV*,4#L-Q2@<TM)SF@0X+S01BE6G4BK#,4$<TXT8HN%AFVCBGXS1M%`6&4<4
MXK0$IBL,(S0%-.*XI10%AA&#3:D(R*::!,2DIV*3BF(2BEQ24`%%%%`!1110
M`4444`%%%%`!2CK2"G+UH!&GH\>9LGU%=$$#<$#%9.C0[4W&MCL*Y*CNSNIJ
MT3,U#3@ZED`_*N=EC*,5/45VQ&5P>:P-5LB)"ZCBKI3Z,BM3NKHR(6*2!O>N
METZ<@`YZUSGE/G@&M?29"K!'!ZU=171%)V=CH6;=&3GM6+]L:.Y99"2A.*V"
M,Q\="*Q-1@PQ(KGA;9G1-O=$-VGE7"R)]UN:9J#[X$R:8TI>`(W)6J]Q+N4+
MZ5NEL82EHR.(_.*O`_**H1<,*O+]VJD3`L6HS(*TEK-MCB05I*>*QD=$=@V@
MO1(F`#2(W[RK!`9:C8HKN>!6-K/WQ]*VI5P*QM8'*FM*>YG5^%F324M)72<0
M4M)10`H.#6KH]X89@I)P:RJ=&Y5@1VJ9*ZL7"7*[G?1N)$#"G5E:/>>9"$)Y
M%:HY-<,HV=CT(RNKC)5#*161<Q%),BMHU4N8@P-.+L*2N5[:3(P35V,UEH3&
M]7X7R`:<D*++)Z4QAFE!S2U!96=:134TB\5`1@U2))0:=FHU:G"@8ZF,*?33
M2`@=:B(YJRXXJ%EJT2R/%%*:2F(<*44W-*#2`&%1D<U-UIC+3`:IP:G1JK]#
M4B&A@BVIJ4&JZ&IE-9LLE%**:*<*D8M(/OK]:6D'WQ]:!G@]%%%2,]@TV020
MCFIIEP":QM,N/+D"D\5L3L/)+>U=,E:1A!WB8>H2?,1FLQCDU9NWW2-54UTQ
M5D<E1W84H-)15&9(O6I*A4U,"<5++0UN:C-2.>*BIH3$I:**9(4M%`I#"E%!
M%**!B=Z4CBE`Y(H[4A@*2EHH`3%%)S2@4Q"KDTZE%*12*L(11VI:*0Q`*7%'
M-%`"8HI:.U`#6&:2GTE,0T+1L!IU)0%AI7%,/M4W45&5Q0)H::2G$4AXIDB4
M44E,04444`%%+0:`$HHHH`*F@C\R0`=S48YK5TJVW.&(J9.RN7"-W8V;*+RX
M%%7.,5$GRJ!3ZXGJ=Z'+BFR0+)PP!%.5:?2&5!IT6?NC\JFBL(U.0H_*I@:F
M4\4.3!)#=F%QBLO4HP$)^M;/:L;6V\N'ZYHAN$]$<Y*^TM5?=NZFB5MQIJ]:
M[DCSV]26/`(JZOW:HIU%74^[4R-(%BVQY@K4'2LJ`_O!6JOW?PK&9O$B!_>5
M=0<51SB2KL1R!42+1%/TK&U@?(M;<XXK%UG[BU=/<SJ?"S&I*6DKJ.(****`
M"E%)2T`7].N3#*ISQ766TPDC5@>M</&<&N@TB[)41DUSU8WU.JC+H;QZTQQD
M4`YIU<QU&=<Q;3N`HMY.U7)D#*:SR#')6B=T0]'<T%/%2"JT+[E%3BH92%89
M%0.M6#TJ-QD4(&0`X-2`U&PP:<IXIB)<TE(#3A2&-(J)UJ<CBHV%-`5B*2I&
M%1GK5$B4M)13$/!I2*8#3QTI#(B*533F'%,IB)XVJ=351#5A#Q4LI%E33P:A
M4U(#4%#Z0?>'UHH'WQ]:0'@]%%%24=W'-L8$$BKYU/,&S)Z8K*HKTG%,\R,Y
M1'2-O<FFT451`4444``ZU,O2H1UJ<<"DRHC&IAJ1N:810#$[4"BBF(*5:2G+
MUI`AP6EQ1FC-(H.]%':C%`PI"":=C-*!0%KC`*<%I0.:>!0"0BBEQ2T4BAM+
M1BC-`!BCI2TAH`2DZ4$TAY%`A0:2C'%%`@)HHH'%``3Z4UB:=2$9I@QAIIS4
MF*3%,FQ'13B#FDP:!#:6CO2FF(2@TM&":0Q**<%)J2&)I&P!1<:5QUO"9'``
MKH[.$11@8&:KV-F$7)'/TK210!7-4G<ZZ<.5#A3J;3A61J/6G`>M1KQ4@I#%
M-.4TVE6D,FR=M8OB#_4#\:V>BXK(UX9MOSIT_B1,_A9R3=32J.:5A\U`X-=Y
MY_4>OWA5M#Q55>U64Z5#-(D\!_>#ZUKJ>/PK&B_U@^M:N>!]*RF;P(96VR"K
M=O)D51NE.`1VJQ:*Q4$U+6A2>I;D&16-K7W%K:?A:QM;^XM%/<53X689ZTE!
MHKK.$****`"EI*6@!5ZU;M)C%(""1SVJH*D0U+5RXNQV%E<"6('/.*MJ:YS2
M[G:P4GK70(05S7'.-F=T)<RN./(JI=1<$@5;4YHD7<N*E.Q31FP2;6P:OJ<@
M8K.G0QR9'2K-M+N49JI+J2GT+7:D-`.:*DHB<>U1C@U.PJ!QBFA,>IIXJ%#4
MH-#&/--(IW6C%("!Q4+#FK+BH&%4A,B-%*>M)5$BBG@\5&*>*0"XIA%2`TUA
M0`P<&IHVXJ$T]#BA@BVAJ0&JZ-4H:H99)FE4_.OUIFZE0Y=?J*0SPNBBBH*.
MUHHHKU#R0HHHH`**2EH`5>HJ>H%^\*GI,N(U@,4PU(1FFD4D#&&DI324R1:4
M=:;WIPH&.`I2,TG-.%(84O:D(-.6D,`.*44H%+B@H0"G=J2EI#L)0:6DH`2B
MEI*8@H-%)0`4E+24"$H%%+0`F.:6BDH`*,4M%`"8Q32`:?010%B+G.,4AS4N
M*"M.Y-B&E`)J3;2A>:+ARC`N*7;S4RQ,YX%:%IICN06'%2Y);EJ#>Q0@MFD;
M@'%;%G8B,`D#\JN1VBQ#@#/TJ0#%8RJ7.B--1$10.*?TH`I:R-`I124M`#UY
MIXIB4^I*%-*AIM.6@"0]*S-;&;0GV-:8-4-9'^AMCT-.'Q(4_A9QSGDTW\:5
MA\U&#T%=YYP]#D58C/%5DXJ=#Q4LN).A^<5J*<JA]JR%/S5J1G,2&LI&T&3*
M`TFUN]7EB547&*SG)65".]::YV"LI&RZB2)\N<5AZYPBUT)QLKGM?&-HITOB
M)J_"S!/6BE-)78<`4444`%+244`**>IQ3*<*0T6H)"C@@]*Z6QN1+&HSS7*`
MUHZ?<F.103Q652-T=%.=F=0M.J*!A(H(IYKD.L@N8MZ&J$3F.3:>*U\9%9E[
M%L;<*N+Z$274N1MN&14F:HVDV1@U<!I-6&G<<14;K4O:FL*0RL/E-2`BFN*1
M3S5")U-.J,&G"I&(PR*B9:GQQ366A`5&%-J9UJ(BK)&T[-)13$.!I33!UIXI
M#&$4@X-/---,1*C5,K554XJ9#4LJY,#3X_OK]140J2/_`%B_45+&>&T445F6
M=K1117J'DA1110`E+110`J_>%6.*@3[U6<9%2RXC,<TA'I3R*80:!LC(I*D*
M\4S'-,EH!3N>U(!FG+2&**<*04M(:'8S2XH%+2+"EHHH`2BBDH`6DHH%`@HH
MHH`0T444P`4VG8I*`$%+1C%%`A:3%.%!%`Q,4F*?BC83T%`6&XI0*D6)SVJ5
M+1V[4KCY65B*-I/05IQ::6Y8_I5V'34'7'Y5#J)%JFV8:6[OT4U?M-*=R"PX
MK:CMHT'"C\JLH``,`"LY57T-8TDMRG#IL4>.`?PJYY:HN`!^524R0\5BVV:V
M2*\E1=ZD8YIE4B1:*!10`M`I110,<O6GBFKTIPI#$S3Q3<4X&D`\&JFJ#-D_
M^Z:L]JKZA\UHX_V31'<3V.*D&'-(#[<T^8?.:C!`KO//8_)%2(:A&3WJ530R
MDR93R*U(&S;BL@&M.T.ZW..U9R-8,T[>-90N<5>VA0`*S+.7@?6M1#N&:YI:
M'1'4:PXKG?$'WE^E=&[8XQ7->(#F45=+XB*WPLQ#11178<`4444`%%%%`"TH
MI**!CP:EC?!!J#-/4U+129TNE7>Y0I-:PYKD+*X,4BX]:ZFUF$D2GO7+4C9W
M.RG*Z+&>*KW,8D0\5,:3M62-&8RYAFQ6C$^X`YJM>1<EA3;67HIK5ZJY"T=C
M2!R**8AXI^:S+(W'%0'@U:89%0.M-"8J&I5JNAP:F4T,9)2$<4HYHS2`A=:A
M<5:89J%UIH3*]%*>*2J$`I0:2EH$.III0:0T#&U(AJ,BG+0"+(J6+[Z_45`I
MJ:+_`%B_45+&CPZBBBLC0[6BBBO4/)"BBB@`HHHH`=']ZK2\U6C^^*M`5+-(
M"-3,5*13"*130PTW&6J0BD`H)L-Q1WI^*,4#L(!3@*4"EI#L`HI:0T#"BBB@
M`Q1110`4E+BE"DT`-HIXC)J18#1<=B'%&*M+;T\6XI<P^5E+::7RR>U7A"OI
M4BQ+Z4N8.0SA"WI3UMV/:M'RP.U."CT%+F*Y"BMJ34BV?K5T#Z4X"IYF4H(J
MK9CO4RVJ#L/RJ<4X5+DRK(C6%!V%2J%7L**.M2,E3!Z"IT(%0)P*>&J663@@
MFG_2HD-.+5(R8'BHG-*&XIC&A!<C-,-.-,/6J)%%.I%IU`!0*#2"@9(*<*8M
M/%(8N:**4BD`"HKWFV?_`'34E-N!FW?_`'30MP9Q%P?WK5'P:DNA^^;ZU%Q7
MH+8\U[BC!-2`]LU$#SS4@-)C0X&M/36RC+65GBM#2VQ+436AI!ZE^V?;(5/K
M6W`<QBN?E)CN=W;-;=F^Z(8KGJ+J=,.Q)(*YG7F_TC%=2V*Y/7C_`*8PIT?B
M)K?"9-%%%=APA1110`4444`+124M`"THI*6D,E0XK:TJZY"L:PE-6;>0QN"#
M42C=&L)69V`8$<4O:J5E<"2,<]JMALUQM69VIW1',@85G,ICE/I6HW-5+B/(
MS519,M1\,FY1S5A36?"VUL5<1J&AIDW:HW'%/!H85(RMC!IZFAQ31Q5")U-.
MJ-34@Z5+&!'%1.*FJ-Q0@*KBF5/(*@/6K1+"EI*6F(2EI*44`%`I2*2D,E4U
M-"?WB?4574U-"?WJ?[PI,:/$J***Q-#M:***]0\D****`"BBB@!\/WZN#I52
M#[]6QTJ)&L-@H(XHI:19&128J0BFXH%8`**6B@`HHHH`*2EI*`"C%+BG!>:`
M&@4H6I`*=BE<=AJI4BJ/04@IZTBDAP`]*>!313A4E#A2T@I12&*!3A2"G"@8
M4ZD%.I#%%+24"D`]:>*8*=FD,7-)GFBDH`D0GUIX-1`TX-2&3*U2]NM0*:D!
MJ6,>#[TA-)FDS0,0TE%%`@%.!IM.6@!W:FT^F]Z0Q5J04P"GCB@!0:D`S48I
MZGFI8T#J!4,W^J;Z&K##(J&4?NV^E"`XF]&)W^M5ZM7X"W+CWJK7H1V/-EN`
MIP;M3:*8D2'&*LV+[9UYXS50'BI(&VRJ?>DUH6G9G5K;I.BG:,_2KL4/E1X%
M5],D#0J*NN/EXKADW>QWJVY"Q/-<CJ[EKMS[UUK#Y&;V-<;J+;KIS[UM1W,:
M_P`)4-%%%=1Q!1110`4444`%+110`4HHHI#%!J5#45/4TF4F:MA.48#)Q6Y$
M^Y17+1/@BMNQGW*`:PJ1ZG53ET-&FNN12@YI:Q-BC*I5\CBIX'R.:)UR*@0[
M6JMT1L7E-257C:I@:AEB.*A(P:L8S43KS30,134JFH1P:>K4,2)J::4'BBD,
M@<5"XJRPJ%UJD)D%+01BDJB1:4=*2E%(!U&*!2T#`5+#_K4_WA4-2P']\G^\
M*3!'BE%%%8FIVM%%%>H>2%%%%`!1110!)`/FJV.E5K?J:M"HD:PV"BBBI+$Q
M0>E+13`2DI324`%%%%`@HI*44`.%.%-%.%(8ZE%-IU(8HIZTT4\4BD.%.!I@
MIPI#'"G`TP4ZD`X&GCI48IXH&.I::*44ACA2TE.I#%6G4T4^D,2BEQ10`8I:
M*2@"1:E_&H5J2I&.S1FD%%(8M%-HI@.IPIHIR]:0#A0>M+12&`IU-%+0`X=:
M7/--4THI#)D.1BHIUPI'M3HSS2S#(I=1G$:D,7;YJG5[5QB\>J->A'8\R?Q,
M****HD<*4$A@13*4'I2'<ZG19#Y:ENE;;L-@KE=+N?E"^AKH()A(@!KCJ1U.
M^G*\0NFV6LA_V37%7+;I6/O77:Q,(K(J.K`UQKG<QK6@M+F.(>R&GK11170<
MH4444`%%%%`"T4@I:!BT444@"G+3:<*!DJGFK]I+M8<UFJ>:LQ-@U#1I%G10
M2AE'-6`:R+.;H*TT;-<TE8ZXNX]QD55=<&KF,BH)$I)C8R)JLH:ICY6JQ&W2
MAH2+(IKKZ4*<TX]*DH@(Q0#S3G%,%,1*IIV:B!I](8-4;"I#32*8%=@:8:G8
M<5$15(D;2TE`IB'"G4P4ZD,*?!_KX_\`>'\Z94D'^NC_`-X?SH8'BM%%%8&I
MVM%%%>H>2%%%%`!1110!/;]ZL#I5>W[U8%0S:.PM%%)2*"BBB@`-)2FDH$%%
M%%`!0**!0`X4X4T4X4ABBG"FBG"D,<*>HXI@IXI%(=124M(8X4X4T4X4@'"G
M"FBG4%"THI!2T@'4HI`:44ACA3J:*<#2&%%%%`"T4"B@!ZT_-,%.I#%%.I!2
MXI#$HHHH$.%**:*<*0QXYI:04$TABTM"4I'-`"=*5:3-&:!DJ^U*Y^4T1].:
M'&0:D#C=9&+QJSJU-;7%VU9==\/A1Y]3XF%%%%69A1110!/;2F*4'/&:ZS33
M')$'#"N,S5RVOY+=2JDX/O652',M#>E44=S5\07(9A&IZ5SQZU+/,TSEF-15
M4(\JL14ES2N%%%%69A1110`4444`%**2E%`"T44M(H*44E+0`HJ1&Q48-*#2
M*1?MI<,*U[>7*BN?C;&*TK2;H*RG$WA(Y#^U-0_Y_KK_`+_-_C1_:=^?^7ZY
M_P"_K?XU60J'4NNY0>0#C(KK%T#3M1T!KW3DFCN-A=8W?=T)!'XX-<)]-4=.
MG;F6YS?]HWW_`#^7'_?UO\:/[2OQTO;G_OZW^-+IEF;^_BMP=JL<NW]U1R3^
M5;?BG3-,TA(X;>*8SRC<':3A0#Z8YHNPDZ:FH6U97\-W]Y-KEM'+=SR(=V5:
M0D'Y3VJMJ>I7Z:I=HE[<JJS.`HE8`#<>.M'AGC7[;_@7_H)JKJO_`"%KS_KN
M_P#Z$:?0E1C[9JW3]6']J:A_S_7/_?YO\:/[3O\`_G^N?^_K?XTNE+;/?Q1W
M<3R1R,$^1]I!)'/O]*VM:T_3M,U-+.'3[BY9HP_RS$'OVVGTI%2<(RY>7\C$
M_M/4/^?ZY_[^M_C5K3-1OGU.T1[VX96F0%3*Q!&X>]0ZLEBLT#:<6\J2$,RL
MVYE;)!!_*H]*_P"0M9_]=T_]"%`W&+@W8T_$=_>0ZY<QPW<\:#;A4D(`^4=J
MS/[4U#_G^NO^_P`W^-6_%'_(P77_``#_`-`%9L$1FGCB4@%V"C/N:;W%2C'V
M<6UT1/\`VG?_`//]<_\`?UO\:3^TK[_G]N/^_K?XUMZQ8:;HD\-M-8SSJR@M
M<>:5).>=HQCBL?5[>WM=1DAM',D`5"CDYR"H.?UI7"#A/:(S^T;[_G\N/^_K
M?XUV+7-SNQ'&6^9E)*$#MM/TYY^A]*X2O2JTAJ<>.Y8\NG<;"Q:)&888J"1Z
M&I!3<TH-:'ECJDA_U\?^\/YU'FGP_P"OC_WA_.A@CQ:BBBL#4[6BBBO4/)"B
MBB@`HHHH`GM^AJP*@M_NFIA4,VCL.I***104444`)10:*!"4444`%**2E%`#
MA3J:*<*0Q13A3:<*0QPIPIHIPH&AU.%(*45)0X4HI!2T`.%.IJT^D4@'%+FD
M-`I`.IPIHI10,<*<*:*4=:0#A2TE+2&`I:2EH&.%.IJTZD`X4II!2FD,2BBE
MH`44HI!3A2`<*"*!2FD,<*=C-,4U*M)C1&PQ31UJ9A4>,&@"132D\&F@<4F>
M:0'*Z\,71K)K:\0C_2,UBUWT_A1P5?B844459D%%%%`!1110`4444`%%%%`!
M1110`4444`%**2E%`Q:6DI:0PHHHH`6E!IM+0!(IJU!)@BJ8ZU-&<&I:-(LY
M>NKT?4?[-317=L0RB6.3/3!?K^!Q7+(VUU;:&P<X/0UI7>MR7=DMJ]G9I&@(
MC*1D%,G)QS7FGUE6#G96T-?7K--#:\\C'FZ@VR)5'*1]7_,D#Z4OQ`_X_P"U
M_P"N1_G6(=9N7O(KFX2*X>*,1H)5)`QT/7K4NJZ_<ZM$$NH+;</NR*A#+]#F
M@RC2FI1;UMN-\-\:[;?\"_\`03575/\`D*WG_7=__0C5GPY_R'+;_@7_`*":
MK:G_`,A2[_Z[/_Z$:?0T7\=^GZL33O\`D)6O_79/YBNRU^_L[/Q`!<6Z;WM2
MHN"6)3(8#@<>WXUQMA>&QN1.L,,K+]T2KD`YSGKUXJWJNN3ZLH^TV]MO``$B
M(0P'IG/2D34IN<T^AEU;TK_D+6?_`%W3_P!"%5*MZ5_R%K/_`*[I_P"A"A&\
M_A9;\3_\A^Y_X!_Z`*S8$>6>..,X=V"J<XP2:T?$_P#R'[G_`(#_`.@BLV&1
MH9DE3&Y&##/J*'N12_A1]$=?;^*"DC:=KUJDH1O+>0#/(.,E3_,?E6/XKTV#
M3-7\JVR(Y(Q(%SG;DD8_2HWUZ66<7$]E937`.?->,Y/IG!`/XBJ-[>3W]T]Q
M<R%Y&[^@]!09TZ3C*Z5NY7KTJO-:]+-:4SDS'[/S_0;2BBBM3RQ:E@_UT?\`
MO#^=15)!_KX_]X?SI,:/%Z***P-3M:***]0\D****`"BB@T`3P?=J<=*AMQ\
MM3BH>YM'8****0PI***``T4&B@!****`"EI*6@!13A313A2&AU.%-%**0QXI
MXI@IU`QXI::*45)0X4M(*6@!RFGU&*?2&A12TE.%(8HI:2E%(8HI1UI*<*`'
M"EI!12&+FC-)2B@!ZT\4P5(*0Q1124M(84&B@T`+3A3*<*0#A2YI!0:0Q0>:
M<K'/6F4#K0!+DYZTO&:8#3@.](8X9H(YH!IQ%(#FO$0_>BL&NA\1K\X-<\>M
M=U+X4<-;XPHHHK0Q"BBB@`HHHH`****`"BBB@`HHHH`****`"E%)10`X4M-S
M2YI#%HI*6@=PHHHH&.%/4\U&*>*3&C-71[ANCQ?F?\*F3P[=OTE@_%C_`(5!
M!YHMMT>XCRBN!WRS?KTK37S3,\6&\M0TH/N5QC\\FN+EBUL?02KUHMKF77IV
M(E\*7S=)K;_OIO\`"G?\(AJ'_/:V_P"^F_\`B:M$A;&"0`LT;9,2J_[S@`@^
M_O5^XM0T]_M1U#)%M(SU+'=C]*BR#ZQ5[_@4-*\.W=CJ,5Q+)`R)G(5CGD$>
MGO4%YX:O)[V>9)8`LDC,`6.<$Y]*L3)>2"62190PMGB``/)7:,_4G=4UTLBH
MLMN"1'$^4C4@,"<'@]^<_A1I83J5%+FNKO0S1X2OS_RVMO\`OIO\*</!^H'_
M`);6O_?3?_$UM6$(745<H>+5#DY^]D@_CC%5+Q+LWE\L7F[+D[,C/RA55LCZ
MC</K0TAQQ%5NUU]Q0_X0[4/^>UK_`-]-_P#$U+9^%KZVOK>9Y;<K'(KD!FS@
M'/I6DDET+VWN!'*88/+A;T.5^8XZGEEY_P!DU!&UW:2QG9+(JPRR)P?O-C"_
MF#^!I:`ZU5JUT1:QX=N[_4YKF*2!4?;@,QSPH'I[52_X1&__`.>UM_WTW_Q-
M:*)<0+%:W"2^1%+ESDL2"IQDCJ-V<_A4EF[/J$#R1"-?*`4%7QD2../3C!Y]
M:=D)5JL(V3T1E_\`"(W_`/SVMO\`OIO_`(FD_P"$1O\`_GM;?]]-_P#$U;M8
MKSR[*)Q*$BDBESSD[BN0?I\_Z4Z&&:33;-(B4G\U"Q"L""%8C=GKS2LBW6JK
M[2^XI?\`")7_`/SVMO\`OIO\*ZTD$D`C(ZUDVD7VB6VFEA<%Y9F8-G@;B1FK
M5M8R0W&]G!&.Q^O\\Y/N*N.FQRUYRJ?&]BU12FFUH<8M26_^OC_WA_.HZ?!_
MKX_]X?SI,:/&:***P-3M:***]0\D****`"DI:*`+,'W:F!J*#&RI:S9M'8*2
MEHH&)112T`)FBBB@!**#24`+F@4E.%`"BG"DI12&.%**04ZD,<*=3%IXH&.%
M**1:=4E"BEI!2T`**>*:*<*0Q:<*2EI#%I124HI#%I12"EH`<*6DHI#%I124
MHH`<#4@Z5&*D'2D,6BBEI#$I:2EH`*<*:*<*0"BE-(*4T#"DHI:`#-/4\4RE
M%("5:?42=:>.M(9@^(QT-<Y72^(QF,&N:KLI?"<-?XPHHHK4Q"BBB@`HHHH`
M****`"BBB@`HHHH`****`"BBB@`I:2B@!:6FTHI#%I:2B@8X4X4RG`T`/4U8
MB?!JL#3U:I:-$S7MY.E:43Y45A028(K4MY,@5A-'1"1>J-Q3T/%##-9&A".#
M4BFF,*533$6`>*"*:II]241$4E/:HSUIB8X44W-**8!32*?2&@")A3#4K"HR
M*8A*?!_Q\1_[P_G3*?!_Q\1_[P_G0P/&:***P-3M:***]0\D****`"BBCO0!
M9@^Y4W:HH1A!4H-9LVCL%%%)0,6DHHS0`&DHHH`*2EHH`2E%)0.M`AXIPIM.
M%(H<*=313J0QPIPIHIPH&.%**2E%24.%.IHIU`"BG"FBG"D,6G4@YI<4ABTZ
MFBG=J0PI:3%+B@!:**6D,44M)0*`'"I!TJ,5(.E)C0ZBDHS2&!I1TI*6@!13
MA313A0`HIU)2U(Q#24II*8!2BDI10`\<4[--H#<]*0&5X@&8*Y<]:ZG7N;?/
ML:Y8]:ZJ/PG'7^(****V,`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*
M***`"EI*6@84444`+3A3:7-(8X4X4P&G`TBD6(VP16A;2XQ66IYJU`^"*B2-
M(LW87R*L#D5G6LF:T(VXKFDK'2A'6HNAJPW(J%EH0QRFI`:@4X-2`YI-!<<:
M8U.S32*`&=Z<#32,4`TQ$@H-(#2T#&D5&PJ7%-(S0!":?!_Q\1_[P_G2,N*6
M#_CXC_WQ_.GT$>,T445@:G:T445ZAY(4444`%'>BB@"U%]P5(***S9LA:2BB
M@H****!!1110`E%%%`"4HHHH!#J<***0QPIPHHI#'"G#K110,=2T45)0Y:=1
M10`+3Q112&APIU%%(8"G"BBD,6BBB@!:6BBD,6@444`.IXZ444ABT444ABBE
MHHH$**4=:**!CA3NU%%(8AIM%%`"TX444`+2#K112`S==_X]OP-<L>M%%=5'
MX3CK_$%%%%;&`4444`%%%%`!1110`4444`%%%%`!1110`4444`%%%%`!2T44
M#"BBBD`M+110,*<***!HD7K4\76BBH9:-*UZBM2'H***YYG5`F/2HGHHJ$60
MGK3UHHIDCZ***0QC=*0444Q#Q2T44#"D-%%("-J2#_CXC_WQ_.BBJZ"ZGC-%
&%%8&I__9
`
end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.CERT
<SEQUENCE>3
<FILENAME>ex99_cert-64389.htm
<DESCRIPTION>CERTIFICATION
<TEXT>
<!DOCTYPE HTML PUBLIC "64389_cert.pdf">


<HTML>
<HEAD>
   <TITLE>64389_cert.pdf -- Converted by SECPublisher 4.0, created by BCL Technologies Inc., for SEC Filing</TITLE>
   <META name="HandheldFriendly" content="true">
</HEAD>

<BODY bgcolor="#ffffff">


<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=right width="99%" colSpan=3
     >&nbsp; &nbsp; <B><U><FONT face="Times New Roman"

     >EX-99.CERT</FONT></U></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD align=center width="99%" colSpan=3><B><FONT
      face="Times New Roman">MFS MULTIMARKET
      INCOME TRUST</FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD align=center width="99%" colSpan=3><B><FONT
      face="Times New Roman"
     >CERTIFICATION<BR></FONT></B>&nbsp;</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=3
     ><FONT face="Times New Roman">I, Tracy
      Atkinson, certify that:<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="4%"
     ><FONT face="Times New Roman">1.</FONT>
    </TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">I have
      reviewed this report on Form N-Q of MFS Multimarket Income
      Trust;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT
      face="Times New Roman">2.</FONT></TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">Based on
      my knowledge, this report does not contain any untrue statement of
      a</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">material
      fact or omit to state a material fact necessary to make the statements
      made, in</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">light of
      the circumstances under which such statements were made, not
      misleading</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">with
      respect to the period covered by this report;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT
      face="Times New Roman">3.</FONT></TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">Based on
      my knowledge, the schedules of investments included in this report
      fairly</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">present in
      all material respects the investments of the registrant as of the end of
      the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">fiscal
      quarter for which the report is filed;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT
      face="Times New Roman">4.</FONT></TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">The
      registrant&#146;s other certifying officer and I are responsible for
      establishing and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman"
     >maintaining disclosure controls and procedures (as
      defined in Rule 30a-3(c) under the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">Investment
      Company Act of 1940) and internal control over financial reporting
      (as</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">defined in
      Rule 30a-3(d) under the Investment Company Act of 1940) for
      the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">registrant
      and have:<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">a.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">designed such disclosure controls
      and procedures, or caused such disclosure</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">controls and procedures to be
      designed under our supervision, to ensure that</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">material information relating to
      the registrant, including its consolidated</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">subsidiaries, is made known to us
      by others within those entities, particularly</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">during the period in which this
      report is being prepared;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">b.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">designed such internal control
      over financial reporting, or caused such internal</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">control over financial reporting
      to be designed under our supervision, to</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">provide reasonable assurance
      regarding the reliability of financial reporting and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">the preparation of financial
      statements for external purposes in accordance with</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">generally accepted accounting
      principles;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">c.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">evaluated the effectiveness of the
      registrant&#146;s disclosure controls and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">procedures and presented in this
      report our conclusions about the effectiveness</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">of the disclosure controls and
      procedures, as of a date within 90 days prior to</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">the filing date of this report,
      based on such evaluation; and<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">d.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">disclosed in this report any
      change in the registrant&#146;s internal control over</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">financial reporting that occurred
      during the registrant&#146;s most recent fiscal</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">quarter that has materially
      affected, or is reasonably likely to materially affect,</FONT>&nbsp;
</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">the registrant&#146;s internal control
      over financial reporting; and<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%"><FONT
      face="Times New Roman">5.</FONT></TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">The
      registrant&#146;s other certifying officer and I have disclosed to the
      registrant&#146;s auditors</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">and the
      audit committee of the registrant&#146;s board of directors (or persons
      performing</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="95%" colSpan=2
     ><FONT face="Times New Roman">the
      equivalent functions):<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="7%"
     >&nbsp;&nbsp;&nbsp; &nbsp;<FONT face="Times New Roman"
     >a.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">all significant deficiencies and
      material weaknesses in the design or</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">operation of internal control over
      financial reporting which are reasonably</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">likely to adversely affect the
      registrant&#146;s ability to record, process,</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%"><FONT
      face="Times New Roman">summarize, and report financial
      information; and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="4%">&nbsp;</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="88%">&nbsp;
    </TD></TR></TABLE><BR>

</HR>
<P style="PAGE-BREAK-BEFORE: always"></P><A name=page_2></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
      &nbsp; &nbsp; &nbsp;<FONT face="Times New Roman"
     >b.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">any fraud,
      whether</FONT> <FONT face="Times New Roman">or not
      material, that involves management or other</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">employees
      who have a significant role in the registrant&#146;s internal control
      over</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">financial
      reporting.<BR></FONT>&nbsp;&nbsp;&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%"><FONT
      face="Times New Roman">Date:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="32%" colSpan=2
     ><U><FONT face="Times New Roman"
     >March 24, 2006</FONT></U>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="60%"
   ><FONT face="Times New Roman"
     >TRACY ATKINSON</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%"><FONT
      face="Times New Roman">Tracy Atkinson</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%"><FONT
      face="Times New Roman">Treasurer (Principal Financial
      Officer and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="8%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%"><FONT
      face="Times New Roman">Accounting Officer)</FONT>&nbsp;
    </TD></TR></TABLE><BR>

</HR>
<P style="PAGE-BREAK-BEFORE: always"></P><A name=page_3></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=right width="99%" colSpan=3
     ><B><U><FONT face="Times New Roman"
     >EX-99.CERT</FONT></U></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="99%" colSpan=3
   ><B><FONT face="Times New Roman"
     >MFS MULTIMARKET INCOME TRUST</FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=center width="99%" colSpan=3
   ><B><FONT face="Times New Roman"
     >CERTIFICATION<BR></FONT></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="99%" colSpan=3
     ><FONT face="Times New Roman">I, Maria F.
      Dwyer, certify that:<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD vAlign=top noWrap align=left width="3%"
     ><FONT face="Times New Roman"
     >1.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">I have
      reviewed this report on Form N-Q of MFS Multimarket Income
      Trust;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT
      face="Times New Roman">2.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">Based on
      my knowledge, this report does not contain any untrue statement of
      a</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">material
      fact or omit to state a material fact necessary to make the statements
      made, in</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">light of
      the circumstances under which such statements were made, not
      misleading</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">with
      respect to the period covered by this report;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT
      face="Times New Roman">3.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">Based on
      my knowledge, the schedules of investments included in this report
      fairly</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">present in
      all material respects the investments of the registrant as of the end of
      the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">fiscal
      quarter for which the report is filed;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT
      face="Times New Roman">4.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">The
      registrant&#146;s other certifying officer and I are responsible for
      establishing and</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman"
     >maintaining disclosure controls and procedures (as
      defined in Rule 30a-3(c) under the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">Investment
      Company Act of 1940) and internal control over financial reporting
      (as</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">defined in
      Rule 30a-3(d) under the Investment Company Act of 1940) for
      the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">registrant
      and have:</FONT>&nbsp;<BR></TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">a.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">designed such disclosure controls
      and procedures, or caused such disclosure</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">controls and procedures to be
      designed under our supervision, to ensure that</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">material information relating to
      the registrant, including its consolidated</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">subsidiaries, is made known to us
      by others within those entities, particularly</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">during the period in which this
      report is being prepared;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">b.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">designed such internal control
      over financial reporting, or caused such internal</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">control over financial reporting
      to be designed under our supervision, to provide</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">reasonable assurance regarding the
      reliability of financial reporting and the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">preparation of financial
      statements for external purposes in accordance with</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">generally accepted accounting
      principles;<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">c.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">evaluated the effectiveness of the
      registrant&#146;s disclosure controls and procedures</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">and presented in this report our
      conclusions about the effectiveness of the</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">disclosure controls and
      procedures, as of a date within 90 days prior to the filing</FONT>&nbsp;
    </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">date of this report, based on such
      evaluation; and<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
      &nbsp; &nbsp;<FONT face="Times New Roman">d.</FONT>&nbsp;
    </TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">disclosed in this report any
      change in the registrant&#146;s internal control over</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">financial reporting that occurred
      during the registrant&#146;s most recent fiscal</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">quarter that has materially
      affected, or is reasonably likely to materially affect,</FONT>&nbsp;
</TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">the registrant&#146;s internal control
      over financial reporting; and<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%"><FONT
      face="Times New Roman">5.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">The
      registrant&#146;s other certifying officer and I have disclosed to the
      registrant&#146;s auditors</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">and the
      audit committee of the registrant&#146;s board of directors (or persons
      performing</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="96%" colSpan=2
     ><FONT face="Times New Roman">the
      equivalent functions):<BR></FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%"
     >&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <FONT
      face="Times New Roman">a.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">all significant deficiencies and
      material weaknesses in the design or</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">operation of internal control over
      financial reporting which are reasonably</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">likely to adversely affect the
      registrant&#146;s ability to record, process,</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="3%">&nbsp;
</TD>
    <TD noWrap align=left width="7%">&nbsp;
</TD>
    <TD noWrap align=left width="89%"><FONT
      face="Times New Roman">summarize, and report financial
      information; and</FONT>&nbsp; </TD></TR></TABLE><BR>

</HR>
<P style="PAGE-BREAK-BEFORE: always"></P><A name=page_4></A>
<TABLE cellSpacing=0 cellPadding=0 width=648 border=0
 >

  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp;<B><U><FONT face="Times New Roman"

     >EX-99.CERT<BR></FONT></U></B>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
      &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;<FONT face="Times New Roman"
     >b.</FONT>&nbsp; </TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">any fraud,
      whether</FONT> <FONT face="Times New Roman">or not
      material, that involves management or other</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
</TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">employees
      who have a significant role in the registrant&#146;s internal control
      over</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
</TD>
    <TD noWrap align=left width="84%" colSpan=2
     ><FONT face="Times New Roman">financial
      reporting.</FONT>&nbsp; &nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%"><FONT
      face="Times New Roman"><BR>Date:</FONT>&nbsp; </TD>
    <TD noWrap align=left width="33%" colSpan=2
     ><U><FONT face="Times New Roman"
     >March 24, 2006</FONT></U>&nbsp; </TD>
    <TD style="BORDER-BOTTOM: #400040 1pt solid" noWrap align=left width="60%"
   ><FONT face="Times New Roman"
     >MARIA F. DWYER</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%"><FONT
      face="Times New Roman">Maria F. Dwyer</FONT>&nbsp; </TD></TR>
  <TR vAlign=bottom>
    <TD noWrap align=left width="6%">&nbsp;
</TD>
    <TD noWrap align=left width="9%">&nbsp;
</TD>
    <TD noWrap align=left width="24%">&nbsp;
    </TD>
    <TD noWrap align=left width="60%"><FONT
      face="Times New Roman">President (Principal Executive
      Officer)</FONT>&nbsp; </TD></TR></TABLE><BR>

</HR>
</BODY>

</HTML>

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
