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<SEC-DOCUMENT>0000900092-10-000222.txt : 20100331
<SEC-HEADER>0000900092-10-000222.hdr.sgml : 20100331
<ACCEPTANCE-DATETIME>20100330173939
ACCESSION NUMBER:		0000900092-10-000222
CONFORMED SUBMISSION TYPE:	N-Q
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20100131
FILED AS OF DATE:		20100331
DATE AS OF CHANGE:		20100330
EFFECTIVENESS DATE:		20100331

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST INC
		CENTRAL INDEX KEY:			0000894242
		IRS NUMBER:				133690436
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		N-Q
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-07354
		FILM NUMBER:		10715052

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

	MAIL ADDRESS:	
		STREET 1:		100 BELLEVUE PARKWAY
		STREET 2:		MUTUAL FUND DEPARTMENT
		CITY:			WILMINGTON
		STATE:			DE
		ZIP:			19809
</SEC-HEADER>
<DOCUMENT>
<TYPE>N-Q
<SEQUENCE>1
<FILENAME>bkn.htm
<DESCRIPTION>BKN
<TEXT>

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<P align="center">
<FONT face="ArialMT,Arial,Helvetica,sans-serif">UNITEDSTATES</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">SECURITIESANDEXCHANGECOMMISSION</FONT><BR>
<FONT face="ArialMT,Arial,Helvetica,sans-serif">Washington,D.C.20549</FONT><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">FORM N-Q</FONT></B><BR>
<BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED</FONT></B><BR>
<B><FONT face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">MANAGEMENT INVESTMENT COMPANY</FONT></B></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Investment Company Act file number 811-07354</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name of Fund: BlackRock Investment Quality Municipal Trust, Inc. (BKN)</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Name and address of agent for service: Anne F. Ackerley, Chief Executive Officer, BlackRock</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Investment Quality Municipal Trust, Inc., 55 East 52</FONT><SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">nd </FONT></SUP><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Street, New York, NY 10055.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Registrant&#146;s telephone number, including area code: (800) 882-0052, Option 4</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of fiscal year end: 04/30/2010</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date of reporting period: 01/31/2010</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 1 &#150; Schedule of Investments</FONT></P>

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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">January 31, 2010 (Unaudited)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=right>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Alabama &#151; 3.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Birmingham Special Care Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Children's</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hospital (AGC), 6.00%, 6/01/34</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,745</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,860,397</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Birmingham Special Care Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Children's</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hospital (AGC), 6.00%, 6/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,100</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,166,528</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Coosa Valley Water Supply District Inc.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB (AGC), 4.50%, 10/01/34</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">900</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">885,447</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Coosa Valley Water Supply District Inc.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB (AGC), 4.50%, 10/01/36</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,645</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,607,412</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Coosa Valley Water Supply District Inc.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB (AGC), 4.50%, 10/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,200</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,158,012</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,677,796</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Arizona &#151; 5.9%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">City of Goodyear Arizona, GO, City of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Goodyear Arizona, GO (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.25%, 7/01/36</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,125</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,039,207</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Glendale Municipal Property Corp.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Arizona, Refunding RB, Series A</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AGM), 4.50%, 7/01/32</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">350</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">348,519</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Mohave County Unified School District</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">No. 20 Kingman, GO, School</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Improvement Project of 2006,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series C (AGC), 5.00%, 7/01/26</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,800</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,913,922</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Pima County IDA, Refunding IDRB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Tucson Electric Power,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 9/01/29</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,375</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,389,094</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Salt Verde Financial Corp., RB, Senior,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 12/01/32</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,035</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">909,465</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Salt Verde Financial Corp., RB, Senior,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 12/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,585</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,902,202</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">San Luis Facility Development Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Senior Lien, Regional Detention</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Center Project, 6.25%, 5/01/15</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">490</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">456,288</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">San Luis Facility Development Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Senior Lien, Regional Detention</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Center Project, 7.00%, 5/01/20</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">490</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">453,809</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">San Luis Facility Development Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Senior Lien, Regional Detention</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Center Project, 7.25%, 5/01/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">980</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">896,083</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 334px; HEIGHT: 1037px" border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="18%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=right>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Arizona (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of Arizona, COP, Department of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Administration, Series A (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 10/01/29</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,100</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,110,857</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University Medical Center Corp. Arizona,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, 6.50%, 7/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">750</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">793,230</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">13,212,676</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">California &#151; 25.2%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">California County Tobacco Securitization</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Agency, RB, CAB, Stanislaus,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series C, 6.30%, 6/01/55 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,090</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">87,562</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">California State Department of Veterans</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Affairs, RB, Series B, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.25%, 12/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,439,750</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Carlsbad Unified School District, GO,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Election, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.09%, 5/01/34 (b)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">923,730</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Sacramento California, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Senior Series A (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 7/01/41</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,938,320</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Dinuba Unified School District, GO,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Election 2006 (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.63%, 8/01/31</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">250</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">261,515</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Dinuba Unified School District, GO,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Election 2006 (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 8/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">535</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">558,069</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Foothill Eastern Transportation Corridor</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Agency California, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 1/15/40</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,495</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,289,599</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Foothill Eastern Transportation Corridor</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Agency California, Refunding RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.88%, 7/15/28</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,762,700</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Golden State Tobacco Securitization</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Corp. California, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Asset-Backed, Senior Series A-1,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.13%, 6/01/47</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">805</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">553,164</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hartnell Community College District</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">California, GO, CAB, Election of 2002,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series D, 7.26%, 8/01/34 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,475</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,196,390</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Los Altos Elementary School District,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">GO, CAB, Election 1998, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(NPFGC), 5.93%, 8/01/13 (a)(c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">10,945</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,589,830</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Portfolio Abbreviations</FONT></B><BR>
<BR>
<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated</FONT><BR>
<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">according to the following listing:</FONT></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="7%"></TD>
     <TD width="43%"></TD>
     <TD width="17%"></TD>
     <TD width="31%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">AGC</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Assured Guaranty Corp.</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">GO</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">General Obligation Bonds</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">AGM</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Assured Guaranty Municipal Corp.</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">IDA</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Industrial Development Authority</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">AMBAC</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">American Municipal Bond Assurance Corp.</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">IDRB</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Industrial Development Revenue Bonds</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">AMT</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Alternative Minimum Tax (subject to)</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">NPFGC</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">National Public Finance Guarantee Corp.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CAB</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Capital Appreciation Bonds</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">PILOT</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Payment in Lieu of Taxes</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CIFG</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CDC IXIS Financial Guaranty</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RAN</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Revenue Anticipation Notes</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">COP</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Certificates of Participation</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Revenue Bonds</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">EDA</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Economic Development Authority</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">FGIC</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financial Guaranty Insurance Co.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">GAN</FONT>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Grant Anticipation Notes</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010 1</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>
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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(continued)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="51%"></TD>
     <TD width="5%"></TD>
     <TD width="14%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right>&nbsp;<B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=right>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">California (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Norwalk-La Mirada Unified School</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">District California, GO, Refunding,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CAB, Election 2002, Series E (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.47%, 8/01/38 (a)</FONT>&nbsp;</TD>
     <TD colSpan=2 align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 12,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,895,400</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">San Diego Community College District</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">California, GO, CAB, Election 2002,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.17%, 8/01/19 (b)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,200</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,579,850</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Refunding,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 2/01/32</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,340</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,868,318</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Refunding (CIFG),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.50%, 8/01/28</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,632,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Various Purpose,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 4/01/31</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,014,580</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Various Purpose,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 6/01/32</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,545</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,140,177</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Various Purpose,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 6/01/32</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,545</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,140,177</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Various Purpose,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.50%, 4/01/33</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,900</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,097,809</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of California, GO, Various Purpose</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(CIFG), 5.00%, 3/01/33</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,523,750</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University of California, RB, Limited</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, Series B, 4.75%, 5/15/38</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,185</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,924,902</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">56,277,615</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Colorado &#151; 0.5%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">City of Colorado Springs Colorado, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Subordinate Lien, Improvement,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series C (AGM), 5.00%, 11/15/45</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,030</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,043,874</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">District of Columbia &#151; 2.2%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">District of Columbia Tobacco Settlement</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Corp., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Asset-Backed, 6.50%, 5/15/33</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,960</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,900,778</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Florida &#151; 12.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.20%, 10/01/32 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,225</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">910,741</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.21%, 10/01/33 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">793,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.21%, 10/01/34 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,580</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">842,170</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.22%, 10/01/35 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">854,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.23%, 10/01/36 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">10,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,581,200</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Miami-Dade Florida, RB, CAB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.24%, 10/01/37 (a)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">10,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,464,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Orange Florida, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(Syncora), 4.75%, 10/01/32</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,884,300</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Fishhawk Community Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">District II, Special Assessment Bonds,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 6.13%, 5/01/34</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,990</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,775,159</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 338px; HEIGHT: 1336px" border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="18%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=right>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Florida (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hillsborough County IDA, RB, National</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gypsum Co., Series A, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.13%, 4/01/30</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 3,700</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 2,849,111</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Miami Beach Health Facilities Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Mount Sinai Medical Center of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Florida, 6.75%, 11/15/21</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,960</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,977,895</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sumter Landing Community</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Development District Florida, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Sub-Series B, 5.70%, 10/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,635</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,738,573</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Village Community Development District</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">No. 6, Special Assessment Bonds,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.63%, 5/01/22</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,205</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,746,474</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">27,418,523</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Georgia &#151; 3.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">City of Atlanta Georgia, RB (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 11/01/34</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,506,810</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gainesville &amp; Hall County Hospital</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Northeast Georgia</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Healthcare, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 2/15/33 (d)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,880,990</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gwinnett County Hospital Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gwinnett Hospital System, Series C</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AGM), 5.50%, 7/01/42</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">650</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">657,592</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Milledgeville &amp; Baldwin County</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Development Authority, RB, Georgia</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">College &amp; State University</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Foundation, 6.00%, 9/01/14 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,810,665</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,856,057</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Hawaii &#151; 1.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hawaii State Department of Budget &amp;</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Finance, Refunding RB, Hawaiian</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Electric Co. Inc., Series D, AMT</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AMBAC), 6.15%, 1/01/20</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,503,325</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Idaho &#151; 1.6%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Idaho Health Facilities Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Trinity Health Group,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series B, 6.25%, 12/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,732,075</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Idaho Housing &amp; Finance Association,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, GAN, RAN, Federal Highway Trust,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.00%, 7/15/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">900</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">957,168</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,689,243</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Illinois &#151; 7.5%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Chicago Public Building Commission</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Building Illinois, RB, Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.00%, 1/01/20 (e)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,489,350</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, RB, MJH</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Education Assistance IV LLC, Sub-</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series B, 5.38%, 6/01/35 (f)(g)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">700</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">49,686</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, RB, Monarch</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Landing Inc. Facility, Series A, 7.00%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">12/01/37 (f)(g)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,155</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">369,600</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Northwestern Memorial Hospital,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.50%, 8/15/14 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,800</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,796,788</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2 BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(continued)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets</FONT></B><B><FONT color=#000080 size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Illinois (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, RB, Roosevelt</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University Project, 6.50%, 4/01/44</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,540,980</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, RB, Rush</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University Medical Center, Series C,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.63%, 11/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,200</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,254,264</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois Finance Authority, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Friendship Village Schaumburg,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.63%, 2/15/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">345</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">271,070</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">16,771,738</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Iowa &#151; 1.7%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Iowa Finance Authority, RB, Series A</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AGC), 5.63%, 8/15/37</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,600</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,722,076</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Kansas &#151; 0.9%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Kansas Development Finance Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, University of Kansas Tenant,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series O, 4.75%, 6/15/41</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,250</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,130,638</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Kentucky &#151; 4.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Kentucky Economic Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Finance Authority, RB, Louisville</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Arena, Sub-Series A-1 (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.00%, 12/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">700</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">751,646</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Kentucky Economic Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Finance Authority, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Norton Healthcare Inc., Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(NPFGC), 6.19%, 10/01/23 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">13,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,893,560</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Louisville/Jefferson County</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Metropolitan Government, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Jewish Hospital &amp; St. Mary's</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">HealthCare, 6.13%, 2/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,250</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,319,525</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">8,964,731</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Maryland &#151; 1.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Maryland Community Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Administration, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Residential, Series A, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.80%, 9/01/42</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,281,700</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Maryland Health &amp; Higher Educational</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Facilities Authority, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University of Maryland Medical</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">System, 5.13%, 7/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">725</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">720,063</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,001,763</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Michigan &#151; 4.8%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Michigan State Building Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Facilities Program,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series I, 6.25%, 10/15/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,875</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,040,094</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Michigan State Hospital Finance</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, Henry Ford</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Health System, Series A, 5.25%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">11/15/46</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,670</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,459,580</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Michigan State Hospital Finance</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, Hospital,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Henry Ford Health, 5.75%, 11/15/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,110</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,012,305</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 348px; HEIGHT: 1290px" border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Michigan (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Royal Oak Hospital Finance Authority</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Michigan, Refunding RB, William</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Beaumont Hospital, 8.25%, 9/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 2,750</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 3,188,405</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">10,700,384</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Minnesota &#151; 1.7%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">City of Minneapolis Minnesota,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Fairview Health</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Services, Series B (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.50%, 11/15/38</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,887,975</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Mississippi &#151; 3.7%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Mississippi Development Bank Special</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Obligation, RB, Jackson County</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Limited Tax Note, (AGC), 5.50%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7/01/32</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,655</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,788,281</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Mississippi Development Bank Special</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Obligation, RB, Jones County Junior</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">College (AGC), 5.13%, 3/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,511,310</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University of Southern Mississippi, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Campus Facilities Improvements</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, 5.38%, 9/01/36</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,750</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,961,237</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">8,260,828</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Missouri &#151; 1.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Missouri Joint Municipal Electric Utility</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, Plum Point Project</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(NPFGC), 4.60%, 1/01/36</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,820</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,380,616</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Multi-State &#151; 3.2%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Centerline Equity Issuer Trust, 7.60%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">12/15/50 (h)(i)</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,235,970</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Nebraska &#151; 1.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Omaha Public Power District, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 4.75%, 2/01/44</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,265</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,246,110</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Nevada &#151; 0.5%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Clark Nevada, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Alexander Dawson School Nevada</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, 5.00%, 5/15/29</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,065</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,058,408</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">New Jersey &#151; 7.6%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Middlesex County Improvement</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Subordinate, Heldrich</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Center Hotel, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.25%, 1/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,510</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">279,350</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey EDA, RB, Cigarette Tax,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 6/15/29</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,871,270</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey EDA, RB, Motor Vehicle</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Surcharge, Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 7/01/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,150</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,149,954</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey Educational Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Princeton University,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series B, 4.25%, 7/01/40</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,600</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,476,214</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey Educational Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, University of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Medicine &amp; Dentistry, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.13%, 12/01/23</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">950</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,077,072</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010 </FONT><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">3</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>
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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(continued)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">New Jersey (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey Educational Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, University of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Medicine &amp; Dentistry, Series B,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.50%, 12/01/32</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,225</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 1,380,943</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey Health Care Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Virtua Health</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AGC), 5.50%, 7/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,450</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,512,741</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey State Housing &amp; Mortgage</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Finance Agency, RB, Series AA,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.50%, 10/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,165</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,267,835</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University of Medicine &amp; Dentistry of</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New Jersey, RB, Series A (AMBAC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.50%, 12/01/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,004,350</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">17,019,729</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">New York &#151; 8.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Albany Industrial Development Agency,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, New Covenant Charter School</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, Series A, 7.00%, 5/01/35</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">725</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">456,736</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Long Island Power Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">General, Series C, (CIFG),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.25%, 9/01/29</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,191,100</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Long Island Power Authority, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A, 6.25%, 4/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">480</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">551,866</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Long Island Power Authority, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A, 5.75%, 4/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,475</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,678,148</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York City Industrial Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Agency, RB, American Airlines Inc.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">JFK International Airport, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.63%, 8/01/25</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,600</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,538,276</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York City Industrial Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Agency, RB, Queens Baseball</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Stadium, PILOT (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.50%, 1/01/46</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,100</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,222,562</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York Liberty Development Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Goldman Sachs Headquarters,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.25%, 10/01/35</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,010,260</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York State Dormitory Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.83%, 7/01/39 (b)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,825</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,468,778</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York State Dormitory Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Rochester Institute of Technology,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 6.00%, 7/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,625</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,783,486</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York State Dormitory Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">University of Rochester, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.13%, 7/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">550</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">565,499</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York State Dormitory Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Yeshiva University,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 9/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">507,975</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Port Authority of New York &amp; New</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Jersey, Refunding RB, Consolidated,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">152nd Series, AMT, 5.75%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">11/01/30</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,056,370</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of New York, GO, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 2/15/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">950</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">984,950</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">18,016,006</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 339px; HEIGHT: 1290px" border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="18%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">North Carolina &#151; 2.2%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">City of Charlotte North Carolina,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.50%, 7/01/34 (d)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 325</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 344,019</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gaston County Industrial Facilities &amp;</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Pollution Control Financing Authority</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">North Carolina, RB, Exempt Facilities,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">National Gypsum Co. Project, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 8/01/35</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,425</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,557,480</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">North Carolina Medical Care</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, WakeMed, Series A</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AGC), 5.88%, 10/01/38</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,036,400</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">North Carolina Medical Care</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, Refunding RB, University</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Health System, Series D,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.25%, 12/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,750</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,919,015</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,856,914</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Ohio &#151; 6.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Cuyahoga Ohio, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A, 6.00%, 1/01/20</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,485</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,760,071</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Cuyahoga Ohio, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A, 6.00%, 1/01/21</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,376,300</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Kent State University, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">General Receipts, Series B (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.25%, 5/01/31</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,921,320</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Ohio Higher Educational Facility</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, Kenyon College</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, 4.75%, 7/01/39 (d)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,450</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,363,368</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">13,421,059</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Oklahoma &#151; 1.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Tulsa Airports Improvement Trust, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.75%, 6/01/35</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,900</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,840,579</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Oregon &#151; 1.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Oregon Health &amp; Science University, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.75%, 7/01/39</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,250</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,359,958</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Pennsylvania &#151; 5.8%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Delaware River Port Authority, RB, Port</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">District Project, Series B (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.70%, 1/01/22</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,002,620</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">McKeesport Area School District, GO,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CAB (FGIC), 5.53%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">10/01/31 (a)(c)(e)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">870</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">331,644</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">McKeesport Area School District, GO,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">CAB (FGIC), 5.53%, 10/01/31 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,435</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">693,488</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Pennsylvania Economic Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Amtrak</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, Series A, AMT, 6.25%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">11/01/31</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,017,300</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Pennsylvania Economic Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Amtrak</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, Series A, AMT, 6.38%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">11/01/41</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,100</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,131,620</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4 BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>
<DIV style="PAGE-BREAK-BEFORE: always"></DIV>

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<A name="page_7"></A>
<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(continued)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets</FONT></B><B><FONT color=#000080 size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Pennsylvania (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Pennsylvania Economic Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Financing Authority, RB, Reliant</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Energy, Series A, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.75%, 12/01/36</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 4,645</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 4,697,674</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">12,874,346</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Puerto Rico &#151; 4.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Puerto Rico Electric Power Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Series UU (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 7/01/23</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,900</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,032,414</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Puerto Rico Housing Finance Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Subordinate, Capital</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Fund Modernization,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.13%, 12/01/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,500</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,502,475</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Puerto Rico Sales Tax Financing Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, First Sub-Series A, 5.75%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">8/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,059,370</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Puerto Rico Sales Tax Financing Corp.,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, CAB, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(NPFGC), 5.77%, 8/01/41 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,500</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,114,800</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">9,709,059</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Rhode Island &#151; 3.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Rhode Island Health &amp; Educational</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Building Corp., RB, Hosp Financing,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">LifeSpan Obligation, Series A (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7.00%, 5/15/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,399,870</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Rhode Island Health &amp; Educational</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Building Corp., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Hospital, Lifespan (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.50%, 5/15/16</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">200</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">200,256</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Rhode Island Housing &amp; Mortgage</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Finance Corp., RB, Homeownership</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Opportunity, Series 54, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.85%, 10/01/41</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,165</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,988,184</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">State of Rhode Island, COP, Series C,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">School for the Deaf (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.38%, 4/01/28</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,330</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,406,329</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,994,639</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">South Carolina &#151; 5.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">South Carolina Jobs EDA, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Palmetto Health Alliance, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.25%, 8/01/31</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,185</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,215,787</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">South Carolina Jobs EDA, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Palmetto Health, Series C,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.88%, 8/01/13 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,560</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,231,380</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">South Carolina Jobs EDA, Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Palmetto Health, Series C,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.88%, 8/01/13 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">440</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">524,982</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">South Carolina State Housing Finance &amp;</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Development Authority, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A-2, AMT (AMBAC), 5.15%,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,975</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,839,481</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">11,811,630</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 353px; HEIGHT: 1359px" border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Tennessee &#151; 2.7%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memphis-Shelby County Airport</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Series D, AMT (AMBAC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.00%, 3/01/24</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 3,865</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 3,907,206</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memphis-Shelby County Sports</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority Inc., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memphis Arena Project, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.25%, 11/01/27</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,135</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,156,599</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memphis-Shelby County Sports</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority Inc., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memphis Arena Project, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.38%, 11/01/28</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,023,940</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6,087,745</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Texas &#151; 8.1%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Harris County Health Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Development Corp., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memorial Hermann Healthcare</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">System, Series B, 7.13%, 12/01/31</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,121,370</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Harris County Health Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Development Corp., Refunding RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Memorial Hermann Healthcare</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">System, Series B, 7.25%, 12/01/35</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,650</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,968,954</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Harris County-Houston Sports Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, CAB, Senior Lien,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.17%, 11/15/38 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">630,850</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Lower Colorado River Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB (AMBAC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.75%, 5/15/36</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,915,860</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Lower Colorado River Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 5/15/13 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">20</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">22,499</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Lower Colorado River Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Series A (NPFGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 5/15/13 (c)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,625</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Matagorda County Navigation District</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">No. 1 Texas, Refunding RB, Central</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Power &amp; Light Co. Project, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.30%, 11/01/29</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,200</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,376,792</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">San Antonio Energy Acquisition Public</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Facility Corp., RB, Gas Supply,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.50%, 8/01/24</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,550</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,666,994</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Texas State Turnpike Authority, RB, CAB</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(AMBAC), 6.05%, 8/15/31 (a)</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">15,000</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,420,900</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Texas State Turnpike Authority, RB, First</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Tier, Series A (AMBAC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 8/15/42</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,325</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,038,784</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">18,168,628</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Virginia &#151; 1.6%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Tobacco Settlement Financing Corp.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Virginia, Refunding RB, Senior</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series B1, 5.00%, 6/01/47</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,900</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,021,561</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Virginia Small Business Financing</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, Sentara</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Healthcare, 5.00%, 11/01/40</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,550</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,545,055</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,566,616</FONT>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010 </FONT><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">5</FONT></P>
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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(continued)</FONT></P>
<P align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="52%"></TD>
     <TD width="19%"></TD>
     <TD width="28%"></TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Washington &#151; 1.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Washington Health Care Facilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, MultiCare Health</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">System, Series B (AGC),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6.00%, 8/15/39</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 2,100</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 2,214,408</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">West Virginia --- 3.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">West Virginia Higher Education Policy</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, Community &amp;</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Technology Capital Improvement,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 4.75%, 7/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,900</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,831,792</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">West Virginia Higher Education Policy</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, Community &amp;</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Technology Capital Improvement,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.00%, 7/01/39</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,265</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,240,117</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">West Virginia Hospital Finance</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, Refunding RB, Charleston,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Series A, 5.63%, 9/01/32</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,500</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,414,600</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">7,486,509</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Wisconsin &#151; 2.0%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Wisconsin Health &amp; Educational</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Facilities Authority, RB, Aurora Health</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Care, 6.40%, 4/15/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,220</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,280,214</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Wisconsin Housing &amp; EDA, Refunding</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">RB, Series A, AMT, 4.75%, 9/01/33</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,250</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,164,362</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,444,576</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Wyoming &#151; 1.7%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Sweetwater Wyoming,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Refunding RB, Idaho Power Co.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Project, 5.25%, 7/15/26</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,800</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,860,264</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Wyoming Community Development</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Series 3, AMT,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4.75%, 12/01/37</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,145</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,968,316</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,828,580</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds &#150; 151.5%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">338,642,105</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds Transferred to Tender</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Option Bond Trusts (j)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Colorado &#151; 2.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Colorado Health Facilities Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Catholic Health, Series C 7 (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 9/01/36</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,250</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,166,263</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Illinois &#151; 1.5%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Chicago New Public Housing Authority,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Illinois, Refunding RB (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 7/01/24</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,194</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,314,368</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Massachusetts &#151; 1.4%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Massachusetts Water Resources</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Generation, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 8/01/41</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,070</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,119,396</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">New York &#151; 2.3%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York City Municipal Water Finance</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Fiscal 2009, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.75%, 6/15/40</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">690</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">769,308</FONT>&nbsp;</TD></TR></TABLE><BR>
<TABLE style="WIDTH: 398px; HEIGHT: 1173px" border=0 cellSpacing=0>
<TR>
     <TD width="2%"></TD>
     <TD width="49%"></TD>
     <TD width="5%"></TD>
     <TD width="12%"></TD>
     <TD width="30%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Municipal Bonds Transferred to Tender</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Par</FONT></B>&nbsp;</TD>
     <TD align=right>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Option Bond Trusts (j)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(000)</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">New York (concluded)</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York City Municipal Water Finance</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Authority, RB, Series FF-2,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.50%, 6/15/40</FONT>&nbsp;</TD>
     <TD colSpan=2 align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 810</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 886,061</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York State Dormitory Authority, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">New York University, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 7/01/38</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,350</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,444,823</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds in New York</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5,100,192</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Ohio &#151; 1.9%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">County of Montgomery, Ohio, RB,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Catholic Health, Series C 1 (AGM),</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.00%, 10/01/41</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,740</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1,688,740</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Ohio State Higher Educational Facility</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Commission, RB, Hospital Cleveland</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Clinic Health, Series A,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">5.25%, 1/01/33</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,600</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">2,665,910</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds in Ohio</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">4,354,650</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Municipal Bonds Transferred to</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Tender Option Bond Trusts &#150; 9.4%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">21,054,869</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Long-Term Investments</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Cost &#150; $363,510,088) &#150; 160.9%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">359,696,974</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Short-Term Securities</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Shares</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">FFI Institutional Tax-Exempt Fund,</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">0.16% (k)(l)</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,415,546</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,415,546</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Short-Term Securities</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Cost &#150; $3,415,546) &#150; 1.5%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">3,415,546</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total Investments</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Cost &#150; $366,925,634*) &#150; 162.4%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">363,112,520</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=3 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Liabilities in Excess of Other Assets &#150; (1.1)%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(2,437,674)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Liability for Trust Certificates, Including Interest</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Expense and Fees Payable &#150; (5.0)%</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(11,143,903)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Preferred Shares, at Redemption Value &#150; (56.3)%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(125,958,961)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Net Assets Applicable to Common Shares &#150; 100.0%</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 223,571,982</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">*</FONT>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">The cost and unrealized appreciation (depreciation) of investments as of</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">January 31, 2010, as computed for federal income tax purposes, were</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">as follows:</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Aggregate cost</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 356,536,807</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gross unrealized appreciation</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 14,288,220</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Gross unrealized depreciation</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(18,849,909)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Net unrealized depreciation</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ (4,561,689)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(a) Represents a zero-coupon bond. Rate shown reflects the current yield as</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">of report date.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(b) Represents a step-down bond that pays an initial coupon rate for the first</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">period and then a lower coupon rate for the following periods. Rate</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">shown reflects the current yield.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(c) US government securities, held in escrow, are used to pay interest on this</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">security, as well as to retire the bond in full at the date indicated, typically</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">at a premium to par.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">6 BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010</FONT></P>
<HR align=center SIZE=2 width="100%" noShade>
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<P align=left><FONT color=#000080 size=4 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Schedule of Investments </FONT><FONT color=#000080 size=2 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(concluded)</FONT></P>
<P align=center><B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">BlackRock Investment Quality Municipal Trust (BKN)</FONT></B><BR>
<B><FONT color=#000080 size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">(Percentages shown are based on Net Assets</FONT></B><B><FONT color=#000080 size=1 face="Trebuchet MS,Bold,Arial,Helvetica,sans-serif">)</FONT></B></P>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="3%"></TD>
     <TD width="47%"></TD>
     <TD width="8%"></TD>
     <TD width="22%"></TD>
     <TD width="18%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(d) When-issued security. Unsettled when-issued security transactions were</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">as follows:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Market</FONT></B>&nbsp;</TD>
     <TD align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Unrealized</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Counterparty</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Value</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Depreciation</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Merrill Lynch</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=center><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $ 5,588,377$</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(27,884)</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(e)Security is collateralized by Municipal or US Treasury obligations.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(f)</FONT>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Issuer filed for bankruptcy and/or is in default of interest payments.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(g) Non-income producing security.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(h) Security exempt from registration under Rule 144A of the Securities Act</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">of 1933. These securities may be resold in transactions exempt from</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=3 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">registration to qualified institutional investors.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(i)</FONT>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Security represents a beneficial interest in a trust. The collateral</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">deposited into the trust is federally tax-exempt revenue bonds issued by</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">various state or local governments, or their respective agencies or</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">authorities. The security is subject to remarketing prior to its stated</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">maturity, and is subject to mandatory redemption at maturity.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(j)</FONT>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Securities represent bonds transferred to a tender option bond trust in</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">exchange for which the Trust acquired residual interest certificates.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">These securities serve as collateral in a financing transaction.</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(k) Investments in companies considered to be an affiliate of the Trust, for</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">purposes of Section 2(a)(3) of the Investment Company Act of 1940,</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">were as follows:</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Net</FONT></B>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Affiliate</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Activity</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Income</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">FFI Institutional Tax-Exempt Fund</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ (7,984,454)&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;$ 17,446</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(l)</FONT>&nbsp;</TD>
     <TD colSpan=3 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Represents the current yield as of report date.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=5 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Fair Value Measurements &#151; Various inputs are used in determining the</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=3 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">fair value of investments, which are as follows:</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 1 &#151; price quotations in active markets/exchanges for identical</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">assets and liabilities</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 2 &#151; other observable inputs (including, but not limited to: quoted</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">&nbsp;&nbsp;&nbsp;&nbsp;prices for similar assets or liabilities in markets that are active, quoted</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">prices for identical or similar assets or liabilities in markets that are not</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">active, inputs other than quoted prices that are observable for the</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">assets or liabilities (such as interest rates, yield curves, volatilities,</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">prepayment speeds, loss severities, credit risks and default rates) or</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=2 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">other market-corroborated inputs)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">&#149; </FONT></B><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 3 &#151; unobservable inputs based on the best information available</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">&nbsp;&nbsp;&nbsp; in the circumstances, to the extent observable inputs are not available</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">(including the Trust&#146;s own assumptions used in determining the fair</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">value of investments)</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">The inputs or methodologies used for valuing securities are not</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">necessarily an indication of the risk associated with investing in those</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">securities. For information about the Trust&#146;s policy regarding valuation of</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">investments and other significant accounting policies, please refer to the</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD colSpan=4 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Trust&#146;s most recent financial statements as contained in the semi-annual</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">report.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR></TABLE><BR>
<TABLE border=0 cellSpacing=0>
<TR>
     <TD width="57%"></TD>
     <TD width="42%"></TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">The following table summarizes the inputs used as of January 31, 2010</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" colSpan=2 align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">in determining the fair valuation of the Trust&#146;s investments:</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Investments in</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Valuation Inputs</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Securities</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=center><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Assets</FONT></B>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 1 - Short-Term Securities</FONT>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 3,415,546</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 2 - Long-Term Investments</FONT><SUP><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1</FONT></SUP>&nbsp;</TD>
     <TD align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">359,696,974</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">Level 3</FONT>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">-</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left><B><FONT size=1 face="Franklin Gothic Book,Bold,Arial,Helvetica,sans-serif">Total</FONT></B>&nbsp;</TD>
     <TD style="BORDER-BOTTOM: #000000 1px solid" align=right><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">$ 363,112,520</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD colSpan=2 align=right><SUP><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">1</FONT></SUP><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">See above Schedule of Investments for values in each state or political</FONT>&nbsp;</TD></TR>
<TR vAlign=bottom>
     <TD align=left>&nbsp; &nbsp;<FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">subdivision.</FONT>&nbsp;</TD>
     <TD align=left>&nbsp;</TD></TR></TABLE><BR>
<P align=left><FONT size=1 face="Franklin Gothic Book,Arial,Helvetica,sans-serif">BLACKROCK INVESTMENT QUALITY MUNICIPAL TRUST JANUARY 31, 2010 </FONT><FONT size=1 face="Trebuchet MS,Arial,Helvetica,sans-serif">7</FONT></P>
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<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 2 &#150; Controls and Procedures</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(a) &#150; The registrant's principal executive and principal financial officers or persons performing</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">similar functions have concluded that the registrant's disclosure controls and procedures (as</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">&#147;1940 Act&#148;)) are effective as of a date within 90 days of the filing of this report based on the</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and Rule 13(a)-15(b) under the Securities Exchange Act of 1934, as amended.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2(b) &#150; There were no changes in the registrant's internal control over financial reporting (as defined</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">that have materially affected, or are reasonably likely to materially affect, the registrant's</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">internal control over financial reporting.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Item 3 &#150; Exhibits</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Certifications &#150; Attached hereto</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the undersigned, thereunto duly authorized.</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: March 19, 2010</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Company Act of 1940, this report has been signed below by the following persons on behalf</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant and in the capacities and on the dates indicated.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: March 19, 2010</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">By: </FONT><U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Neal J. Andrews</FONT></U><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
<P align="left">
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: March 19, 2010</FONT></P>

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<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Anne F. Ackerley, Chief Executive Officer (principal executive officer) of BlackRock Investment Quality Municipal</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Trust, Inc., certify that:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock Investment Quality Municipal Trust, Inc.;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material fact necessary to make the statements made, in light of the circumstances under which such statements were made,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">designed under our supervision, to ensure that material information relating to the registrant, including its</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting and the preparation of financial statements for external purposes in accordance with generally</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">days prior to the filing date of this report, based on such evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial reporting that</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who have a significant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">role in the registrant's internal control over financial reporting.</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: March 19, 2010</FONT><BR>
<BR>
<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Anne F. Ackerley</FONT></U></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Anne F. Ackerley</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Executive Officer (principal executive officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
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<P align="left"> <B><FONT size=2 face="Arial-BoldMT,Arial,Helvetica,sans-serif">EX-99.CERT</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">CERTIFICATION PURSUANT TO RULE 30a-2(a) UNDER THE 1940 ACT AND SECTION 302 OF</FONT></B><BR>
<B><FONT size=2 face="TimesNewRomanPS-BoldMT,Times New Roman,Times,serif">THE SARBANES-OXLEY ACT OF 2002</FONT></B></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">I, Neal J. Andrews, Chief Financial Officer (principal financial officer) of BlackRock Investment Quality Municipal Trust,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Inc., certify that:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">1. I have reviewed this report on Form N-Q of BlackRock Investment Quality Municipal Trust, Inc.;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">material fact necessary to make the statements made, in light of the circumstances under which such statements were made,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">not misleading with respect to the period covered by this report;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">the investments of the registrant as of the end of the fiscal quarter for which the report is filed;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">designed under our supervision, to ensure that material information relating to the registrant, including its</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">which this report is being prepared;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) designed such internal control over financial reporting, or caused such internal control over financial</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting and the preparation of financial statements for external purposes in accordance with generally</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">accepted accounting principles;</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">c) evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">days prior to the filing date of this report, based on such evaluation; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">d) disclosed in this report any change in the registrant's internal control over financial reporting that</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">materially affect, the registrant's internal control over financial reporting; and</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">of the registrant's board of directors (or persons performing the equivalent functions):</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">a) all significant deficiencies and material weaknesses in the design or operation of internal control over</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process,</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">summarize, and report financial information; and</FONT><BR>
<BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">b) any fraud, whether or not material, that involves management or other employees who have a significant</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">role in the registrant's internal control over financial reporting.</FONT></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Date: March 19, 2010</FONT><BR>
<BR>
<U><FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">/s/ Neal J. Andrews</FONT></U></P>
<P align="left"> <FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Neal J. Andrews</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">Chief Financial Officer (principal financial officer) of</FONT><BR>
<FONT size=2 face="TimesNewRomanPSMT,Times New Roman,Times,serif">BlackRock Investment Quality Municipal Trust, Inc.</FONT></P>
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